Mid Day Chart 12-11-2014
As expected, the recent correction set up a great buying opportunity. Every time we have a multiple day sell off, once price find support, the market tends to rocket higher once again. The ES is up over 20 points in just a couple of hours this morning.
Prices are in a clear and steady up trend for now and the bias is certainly up for now. This is a big move, so prices could find resistance soon, but it also would not surprise me to see this rally rest for a bit and then continue higher once again. You can not trade with that mentality though, so follow the price action and take what it will give you, because it can change on a dime!