Current position: Long ES from 1073.25 on Feb 11.  Stop loss currently set at ES 1080.00, and is a stop and reverse. Until I figure out how to paste a chart directly into this blog I'll have to go with a screencast link of current position and chart:
http://screencast.com/t/MjQ5MTYyOD
As can be seen, the pattern on the ES from the low on Feb 5 channels quite nicely.  We bounced off the top of the channel both on Thursday and Friday, but the uptrend is still intact.  The volume accompanying this rally is less than impressive (to say the least), but even so, it is beginning to look impulsive rather than corrective.  Which may mean the drop from Jan 19 to Feb 5 may itself have only been a correction to a longer term bull trend, and the rally from Feb 5 is a resumption of that trend.  That's hard for me to swallow for a myriad of reasons, but it is what it is.