"Battle Royale" Between Bulls & Bears at 2680 to 2740 Zone (ES)

Unless ES flips around to the downside again, and plunges beneath this AM's CPI reaction low at 2627, the developing pattern off of last week's Double Bottom lows at 2529/30 argues for a "battle royale" between the bulls and the bears in the 2680 to 2740 zone, from where ES either will bolt to the upside into another relentless January-type advance, or reverse to the downside with a vengeance into a nasty decline that takes out the Feb. lows.