Emini SP December contract hit the top of the Persistence Zone on the Quarterly Profile and turned right off of it.  Again the ESZ12 opened inside the Quarterly PZ telling us the bulls and bears are fighting for control of the market on the Quarter.  The ESZ12 will continue to bounce inside the Quarterly PZ just as i told you in the last post i put out, until it is able to either break above the top and stay above it for 7 consecutive days, or break below the bottom and stay below it for 7 consecutive days.

The Yearly Profile did make a bullish breakout 5 weeks ago by closing on a weekly candle above the midpoint between MR1 and MR2, this tells us that the ESZ12 will take at least one more leg to the upside and attempt to continue the uptrend.

We were legging into this current pullback with the Bullish Breakout on the Yearly Profile.  Currently the ESZ12 is getting support around the 1/4 line within the Quarterly Profiles Persistence Zone, and is now pushing up towards the midpoint at 1431.25.  If ESZ12 can break above the midpoint, the bulls will take another shot at taking control of the market on the Quarter and attempt to push prices above the top of the Quarterly PZ at 1460.00.

Yearly Profile suggest the ESZ12 could reach the 1500 area and possibly to 1600 based upon prior market movement within the Zone-Trader Yearly Profile.

Currently Long and holding.