Another vertical short-squeeze with nary a bullish buyer in sight! This is Yankee know-how in its terminal stage. Friday’s wilding spree pushed the futures forcibly through the 4398 midpoint resistance shown in the chart, shortening the odds of a further move to D=4673.50. The point ‘B’ high of the bullish pattern is pretty sausage-y, and so we shouldn’t expect the presumptive stopping power of the Hidden Pivot target to work precisely. However, the easy move past p should be viewed as a reliable sign the target will be reached. A pullback to the green line (x=4260) can be used to get long ‘mechanically’, although the initial risk of $5,600 on four contracts will require the use of a ‘camouflage’ trigger capable of cutting that by perhaps 90%.
ESZ23 – Dec E-Mini S&Ps (Last:4430.50)