Very sloppy pattern in ES…

…especially when seen from a distance and compared to USDJPY (thin purple line.)

It’s trying to ramp up through the purple midline, but Japan isn’t helping much.  The Nikkei tumbled overnight after tagging the purple .618, but found support in the rising white channel.

And, USDJPY is being constrained by two falling channels and the rising white channel top, not to mention the .500 Fib.

This would be an opportune time for the bulls to engineer a 35-pt dip in SPX to set up an IH&S.  But, that would require allowing stocks to actually decline (and, a little imagination — not a strong suit for the bots.) The .786 is up at 1879.45.

UPDATE:  12:35 PM

More melt-up nonsense.  ES and SPX barely paused at their .786s, pressing ahead on no volume.   Seem to be targeting the top of the acceleration channels, but the .886s are coming into view at 1882.33 and 1887.74.

DJIA should tag its .886 any minute thanks to the preposterous channel below (not even the pretense of reality.)  Will it even matter?  NKD is aiming for 14540 and USDJPY for 102.64 (initially, 102.68-70 if it breaks through.)