The futures have behaved well, meaning predictably and profitably, within the pattern shown, so far producing a short precisely from p2, and on Thursday a ‘mechanical’ buy at the green line (x=6659.00). There are no guarantees bulls will achieve D=6803.34, since price action at the midpoint Hidden Pivot (p=6707.17) has been a knock-down, drag-out battle. But since every rally for the last 16 years has equaled or surpassed its target, there is no reason to think this one will go unachieved. A final note: There are two textbook trades left in the pattern — long to d; and, if you’ve made money on the ride up, short at D. ______ UPDATE (Oct 3, 1:34 p.m.): The pullback from exactly 6800.00 seems too coy to last, but we should still respect the possibility of an important top there, since it fell just a split-hair shy of a compelling Hidden Pivot target that took four months to reach. If, as is more likely, bulls get second wind and continue higher, 6874.25 would be the next logical stop on the way to, like, Mars. If you got short as suggested above, an rABC pattern extrapolated from the hourly chart (a=6787.50) would have triggered at 6794.75 and taken you out of half with a quick profit at 6779.00. The next, potentially buyable, Hidden Pivot support for this correction comes in at 6736.50.
ESZ25 – December E-Mini S&P (Last:6781.00)
