Here my last point of view before Trump 1st Congress speech tonight!
Basicly, the YM1! is in an upside trend (realize Daily/Weekly SMA Cross in green area). Not in an euphoric bullish trend! but still in a very constructive upside, with much more potential to the upside than dowside! No doubt ...
We can cut the YM1! in 3 different time frames, if you want! the Big Picture @ for investors, if you want @ the mid-term Time Frame @ for swing traders, if you want @ & the short-term Time Frame @ even for Day traders or scalpers, like us @ this Chart :)
Price actions above 20500 are manifesting a bullish picture in all 3 Time-Frames - & vice versa under 20500 Points. But all this technical facts or numbers are obsolet, if you want, ´cause the big quest tonight is - at least in my opinion: "Will the market, all financial market participants (even all traders, journalist, commentators - around his speech tonight) buying his better future outlook!?"
The answer should be expresse in the price action tonight - even until weekend ?!