Since it has become difficult even to imagine a prolonged downturn, I’m being extra cautious with this week’s projection. It points most immediately to a potentially tradable top at 6007.50. This reverse-pattern Hidden Pivot resistance is well located, and the pattern is not too obvious; that’s why odds for shorting there are attractive. However, any progress above the resistance, especially if easily achieved, would imply more upside to 6019.50, the midpoint pivot of a larger, conventional pattern; or even to D=6101.75. There is one more trade possibility to recommend, a ‘mechanical’ buy if the futures fall straightaway to the red line (p=5931.25). The stop-loss would be at 5905.75, but you’d want to use a ‘camo’ trigger to reduce entry risk by as much as 95%.
ESZ24 – Dec E-Mini S&Ps (Last:5991.00)
