We’re using the 4673.50 target of a larger pattern to project a major top, but the 4612.75 Hidden Pivot at the top end of this pattern can serve for now as a minimum upside target for the near term. The point ‘A’ low is a muddle of bars, but the target should still work for purposes of getting short. The textbook trigger interval of nearly 300 points poses an initial risk that would be unacceptable. To cut it down to size, we can look for a ‘camouflage’ set-up at the appropriate time. Meanwhile, I’ll suggest trading with a bullish bias if stocks open moderately lower-to-unchanged Sunday night.
ESZ23 – Dec E-Mini S&Ps (Last:4527.50)