51.64K and maybe 53K

Good morning everybody,

So, as we've said on Monday - market has got Wyoming positive injection. Daily price action was forming the triangle that now is broken. Still, NFP report stands ahead. Although ADP numbers were 2 times worse but who knows...

This is the major concern guys, right now - whether we get just wash& rinse of previous top or we get real upward breakout. The first idea is also important because of existence of 51K AB-CD target on 4H chart, and the fact that 5/8 major resistance is not tested yet.

That's why, now we consider potential upside butterfly pattern with first and major reliable target around 51.64K, that hopefully could be tested even before NFP... Next target of 53K is also real, but if it gets support from weaker NFP report. Action above 53-54K is hardly possible this week, as market ceil to weekly Overbought area.