The predicted fall to at least 5055.50 occurred with a selling climax on thin volume Thursday night. This set up an all-but-certain relapse after a brief flurry of buying at the opening bell on Friday. The renewed weakness has greased the track for a further fall to p2=4916.50 as the new week begins, but more likely to D=4777.50. A rally first to x=5194.50, however unlikely, would trigger an appealing ‘mechanical’ short that you shouldn’t pass up if you trade this vehicle. Also, the D target can be bottom-fished with a reverse-pattern trigger that can be calculated using an intraday chart.
ESM24 – June E-Mini S&Ps (Last:5003.50)