Range Extension at extreme in action

Here is the ES MP chart at 12:23pm today 16 February 2006

[1288.75] I
[1288.50] I
[1288.25] I
[1288.00] I
[1287.75] I
[1287.50] I (high for February)
[1287.25] I
[1287.00] I
[1286.75] HI
[1286.50] HI
[1286.25] HI
[1286.00] HI
[1285.75] HI
[1285.50] HI
[1285.25] DGHI
[1285.00] DG
[1284.75] DG
[1284.50] DEG
[1284.25] DEFG
[1284.00] DEFG
[1283.75] DEFG
[1283.50] DEFG
[1283.25] DEFG
[1283.00] DEF
[1282.75] DEF
[1282.50] EF
[1282.25] EF

So theory is that the RE long is more likely to work because the RE is into a multi-day high and we have a short squeeze.

Original theory is that RE is at multi-day high. In this case RE is "into" multi-day high.