Dominant TF: Daily (also weekly to an extent)
Swings: UP-DN-DN
Market direction: congestion to mildly down.
60mins: mildly up.
Lower time frames indicate still some slight upward bias to 820, but RUT could also reach 828(stronger MM + Fib). MTFS is not looking too bad but Entropy has peaked already. Significance level is now much lower.
Daily: Congestion to down.
Despite yesterday's up day, and contrary to lower time frames, the daily chart still points downward, and this is the dominant time frame. One may have some congestion since we have Fib + MM level at 812. Caution must be exercised, at least until a new Fib formation appears clearly. In such case, one may see a target more clearly (781?? or 862??).
Weekly: mildly UP
Entropy is looking good, but MTFS indicates continuation of this situation of congestion with an upward bias.
