Emini S & P... extreme caution

Remember we are at historic resistance areas with a potential humongous triple tops the likes of which has never been seen. Just the look of it sends shivers down my spine! I suspect we will eventually pass higher in a large move ( remember equity markets are essentially bullish and thus its a rigged market which by virtue needs to rise) but the fact still remains we may have a bumpy ride through to the mid 1570's and could see extremely volatile swings and we cannot rule out the chance of a substantial drop even if we then ride on up higher. Just forming a pivot here could entail weeks/months of jerking around up and down....the limits of which are unknown but a glimpse can be forseen by looking at the structure of the previous two swing highs.

TODAYS VIDEO

In a more normal 60 and 15 min time frame below take a look at the charts and supporting ML's and resisting RL's. Areas of interest include the two down arrows. One is at the CL of the most recent fork you can draw using any one of the recent lows as P0  the 1567.75 high as P1 and yesterdays low as P2. A failure to get there would be cause for concern. Also of interest is the confluence of the downsloping fork's UMLP (which had its CL touched at 1544 yesterday) and the rising thick black CL that has supported price during the past week or two. It may well act as a resisting line and stop price. Also note the reaction line that runs close the the same downsloping upper median line parallel( red arrow on right hand side).

 

All eyes look for fundamental direction from tomorrows NFP's data. Is the US economy really in good shape?

UPDATE 1700hrs London: 
Arrows shows retouch on the back of the upsloping RL (see previous videos and posts) where support becomes resistance and a CL failure for the thin blue uplsoping fork ( same arrow)....weakness to come i think.