Positive Market Reaction To Better Economic Data

ES reacted positively to stronger-than-expected Retail Sales and lower-than-expected Weekly Jobless Claims!  For anyone (myself included) who was concerned that better economic data might elicit a negative market reaction because the Fed will be less inclined to cut rates sooner than later, well, surprise, surprise!  Algos, traders, and investors are lovin' the good news for a change!

Technically, ES has spiked above key resistance at 5500 to 5510, to a new "recovery" rally high at 5534.75 (while I am typing this update)... so far this AM...

As long as any forthcoming weakness is contained above support lodged from 5486 to 5500, my work points next to 5575-5600, with an overshoot objective to 5620/30... Last is 5528.50...