The futures were not supposed to blow past a target as clear and compelling as the one at 4950.00 shown in the chart. Yes, the pattern is too obvious to work precisely. But still. Regardless, we must now infer not only that at least somewhat higher prices impend, but that the ballyhooed one at 430.58 in MSFT may not show the stopping power I’ve given you to expect. Either that, or the 5059.75 target of the more expansive pattern shown here is in play. It will not work precisely because this is a continuous chart, but the target should be good enough for government work, meaning we can improvise a short up there if necessary, about 10-15 point higher on the March contract.
ESH24 – March E-Mini S&Ps (Last:4972.50)
