Risk-on. It would be more than a bit surprising if the ES (S&P and YM (Dow) did not soon trade to a new high. The ENQ (Nasdaq 100) and TF (Russell 2000) are lagging but they may soon begin to outperform the Dow and S&P IF the indices have bottomed in a sharp but short-lived correction.

A close below Tuesday’s lows in the ES or YM would bring a potential bearish resolution back into play.