There are no appealing reverse patterns for predicting how much higher the next thrust will go above the record 6468.50 achieved on July 31. However, the conventional ABCD pattern shown suggests the move could stall at a minor target at 6435.50. Instead of trying to get short there, I’ll suggest doing so at 6447.75, a voodoo number that is unlikely to be on the radar of the bozos and algos we presume to trade against. We’ll use the tightest possible stop-loss I can craft, based on a 3.0-point trigger interval from within 1.00 point of the voodoo target. If you are unfamiliar with this tactic, you should paper-trade it. If and when ES blows past the old high, we’ll have some reverse (rABC) patterns to work with to help forecast this gas-bag with tight precision.
ESU25 – Sep E-Mini S&Ps (Last:6425.25)
