Quote from JSSPMK:
Quick look over 240 ES & NQ does not suggest that the current bullish oscillation has run its coarse, perhaps you are talking about just today?
I had today and tomorrow in mind, although that study suggests the effect is longer lasting.
I agree that there is still bullish formation on 120 and 240 but IMO it could finish running its coarse at the 38.2% major retrace on ES ~1375 and 61.8% on NQ ~2010 since the lower timeframes (15-min) show a bearish wedge occuring.