That whooshing sound on Friday was the stock market getting flushed for a rare change. Permabears shouldn’t get their hopes too high, however, since DaBoyz will have an opportunity to turn things around at the 4146.75 ‘D’ target shown in the chart. This Hidden Pivot support can be used as a minimum downside objective for the near term — and also as a place to attempt bottom-fishing with as tight a stop-loss as you can abide. Since you will be catching the proverbial falling piano, be prepared for more slippage to 3994.75 if the support doesn’t hold. There, too, I would encourage you to bottom-fish using a bullish pattern on the very lesser charts (aka ‘camouflage’). _______ UPDATE (Apr 26, 11:22 p.m.): At today’s close, I provided detailed guidance for a countertrend trade that went on to produce a profit of as much as $2000 per contract. Two subscribers reported doing the trade successfully, each in a different way. The 4194.75 ‘D’ target of the pattern is just an inch away at this hour, so you should be out of 3/4 of the position. Here’s a chart that shows how the trade set up. _______ UPDATE (Apr 27, 10:57 p.m.): When the futures finish their distributive dance at p2=4153.81, expect them continue falling to at least D=3994.75 of this pattern. This is the same target as the one given above, but with additional, falling price bars. _______ UPDATE (Apr 26, 10:06 p.m.): No telling how high this detour will go, but AAPL’s very strong performance today is warning bears not to get too aggressively in the way.
ESM22 – June E-Mini S&Ps (Last:4211.75)
