The futures looked so heavy on Friday that I was tempted to switch to a bearish, big-picture chart that requires a drop to 6654 to trigger a theoretical sell signal. Instead, I’ve focused on a smaller time frame that can give us a more nuanced picture without the drama. The midpoint Hidden Pivot at 6864.25 will not likely be useful for bottom-fishing because it coincides with Friday’s low. However, we can still monitor price action closely at p2=6838.00 and D=6812.00 closely to determine whether bears might be gaining the upper hand. An easy breach of D on first contact would be evidence of this, so be alert to the possibility.
ESH26 – March E-Mini S&P (Last:6893.25)
