I have outstanding targets on the monthly chart as high as 7499, but this truncated view is the one we should focus on for now, since it is growing clearer and more compelling by the day. It has produced three winning trades so far: a conventional ‘buy’ at the green line; a short from the red line, and a ‘mechanical’ buy on the pullback to the green line. This suggests that p2=6621 and D=6749 will also be usable and reliable for producing profits. However, because buyers did not exactly impale p=6494 on first contact, or even on the second, there can be no guarantees the target will be reached. The secondary pivot (p2=6621) ) is another matter, however, and its attainment will become a lock-up if the futures end the coming week resting above it. In the meantime, yet another relapse to the green line, however unlikely, should be treated as an attractive ‘mechanical’ buying opportunity.
ESU25 – Sep E-Mini S&Ps (Last:6843.25)
