Gains in ESH5 to continue near-term: BofA Merrill Lynch

BofA Merrill Lynch notes ....

• While ESH5 has reached its Double Bottom target at 2100, evidence says that these gains can continue. 
  
  
• Yesterday's break of 2082.50 on strong breadth and volume completed a small Head and Shoulders Base, targeting the confluence of resistance between 2117.25 & 2136 and potentially beyond. 
  
  
• Pullbacks should be limited to 2082.05, while a break of 2060.50 invalidates this bullish setup.