Asian markets were mostly higher as stocks followed a positive close on Wall Street. European markets also gaped higher, and now the question is, if this rally is only temporary move or start of something bigger!?

Well, on S&P futures, move from the lows is still only in three waves, so any larger bullish reversal CANNOT confirmed. In fact, we see an open gap from Sunday, which usually when is filled trying to cause a reversal. With this being said, our larger view remains to the downside, and an impulsive fall towards the support line should confirm that scenario.