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The E-mini March S&P appears to be consolidating at the high side of its intraday range, which also happens to coincide with the top of the three-session sideways congestion area (1183-1194). My intraday work argues that this AM's rally from 1185.25 to 1195 is not yet complete, and that the E-SPH should pop to the upside again into the 1196.50-1198 next target zone which could suffice as the peak of the entire countertrend upmove off of Wed.'s low at 1182.75. Only a decline that breaks and sustains below 1192 will weaken the intraday pattern, while a break below 1189.75 will reverse the pattern altogether.

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