The 4109.00 target for the December futures (see inset) replaces one at 4090.63 that was tied to the expiring September contract. The target is a midpoint Hidden Pivot, and it can be used on Monday as a minimum upside objective. If it gets blown to smithereens — which seems likely, given the vicious short squeeze we saw on Friday — that would put D=4317.00 in play as no worse than an even bet to be reached. ‘Mechanical’ trades triggered on the hourly chart seem highly likely to work, given the power of the impulse leg and the no-nonsense look of the pattern itself. We won’t necessarily have to wait for a dramatic swoon, since small-chart ‘camouflage’ set-ups along the way can get us aboard practically at will with risk tightly controlled. Stay tuned to the chat room if interested.
ESZ22 – Dec E-Mini S&Ps (Last:4084.00)