DaBoyz are showing increasing strain as they struggle to keep this hoax aloft. The week ended with the third consecutive Friday when nothing happened. The day was over on the opening bar, an opportunistic short squeeze that leveraged the absence of ‘sells’ on the order book as the session began. All this aside, we should expect the futures to notch a new record high at 7026.50 in this holiday-shortened week, pending a move through the midpoint resistance at 6899.00. A pullback to the green line (x= 6835.25) can be bought ‘mechanically’, stop 6771.00, using a ‘camo’ trigger to pare risk. ______ UPDATE (Dec 24, 12:07 p.m.): It’s hard to imagine who would want to be short the S&Ps, especially heading into Christmas/New Year’s, but short-covering nonetheless is almost solely what is driving the rally. This morning’s effortless move through a Hidden Pivot midpoint resistance at 6967.38 (A= 6596.25 on 11/21, hourly) has not only made 7026.50 a lock (see above), it has put that pattern’s 7163.25 target well in play.
ESH26 – March E-Mini S&P (Last:6985.50)
