Not enough traffic has moved to the December time period so this is still the September contract. This is the 90-minute intraday chart, which could be showing a 4th wave rally for this month.
In the last few days, the DJIA plunged about 1000 points before it started to recover. Markets can move month to month so this bearish phase my turn by the end of September.
I will not repeat the fundamental jargon that 1000 others are doing. Nobody knows “What News” really cause the markets to head up or down and it’s impossible for the same news to happen for us to take advantage of it. Did the bearish news in late 2008 get you in a panic to get out or did all the bearish news tell you to load up?
The VIX sure has exploded but I think the VIX could still go above 40. The arrival of solar cycle 25 is the deciding factor as solar cycle 25 could produce 5 waves up in Primary degree.