ES (Emini S&P 500) Saved by the PPI

ES-- Saved by the PPI (kudos go out to fellow member KRETX who sniffed this out yesterday morning) and the 50 DMA (5173) for now. The key for the remainder of the session is the ability of the bulls to preserve the positive reaction to PPI and to extend the gains above 5226.50... 

Should ES roll over and sustain weakness beneath 5200 into the final hour of trading, all bets are off that ES established a significant correction Double Bottom Low yesterday and today at 5176.50 and at 5173.50... Last is 5211.25...

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