Let's be honest: this market is unanalyzable, from minute to minute, from hour to hour, from day to day, with wild swings, long daily bars, back and forth over the 200ma, and moving quickly on any excuse or reason.
Market made a low during Globex because China retaliated; later it took off on a rip roaring rally and vaulted to a new weekly high after making a new weekly low a few hours before. But nothing changed in the trade matter!
Market is now bullish, there can be no doubt about it, but market can then be bearish on Thursday morning and retrace all the gains while moving down to that 200ma, the most watched and now most useless average in the world since who knows when....
That 200ma is irrelevant now since markets have crossed it numerous times, exposing it as a sham and a fraud.
However, the best way I have found to trade such volatile markets is day-trading with the 1-minute ESM chart. I focus intensely on the chart, nothing else; open & close a trade, done, move on to next trade; focus on trade, open & close, done; repeat....this is not investing, no technical analysis except the most awesome indicator in the history of indicators: the AWESOME OSCILLATOR, the Swiss Knife of indicators, and with SAR (parabolic) stop to keep me honest e.g. I will not persist with a long trade if SAR tells me I should be out! I have learned the hard way that in 99% of the cases I was wrong to keep a losing trade in the hope of profit and SAR was darn right.
It is at times very tiring but quite enjoyable and profitable.
So, after 24 hours of wild action, we are back to yesterday's target: rally to S&P 2690/2700