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With about two hours remaining in today's session, the E-mini June S&P has preserved the vast majority of its intraday move from 1192 to 1207 -- and appears to be poised for another pop to higher highs into the 1208-10 next micro target zone. At this juncture, only a decline that breaks and sustains below 1202 will trigger preliminary signals that the current upleg off of yesterday's low at 1191.50 is over, and that a corrective period has started. A break below 1191.50 is needed to trigger much more significant sell signals that will indicate that an intermediate-term peak has been established.

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