Bear market over? The structure shift we will need to see.

We can observe the weekly trend in MES which mirrors SPX and all SPX futures. Following consecutive lower lows and lower highs, we have broken the prior swing high to create a higher high. Equal highs and the weekly fair value gap above act as a draw on liquidity. Weekly fair value gap below also acts as a draw on liquidity.

Retest and ‘double bottom’ in weekly demand would confirm a higher low following this higher high. Until proven otherwise, this is still a corrective move in a downtrend on higher timeframes.