June Mini-S&P (last: 785.75)

pattern-too-obviousThe whack-jobs who had supporting roles in yesterday’s short-squeeze burlesque are likely to have their resolve tested at 809.50, the nearest Hidden Pivot above with any significance. You can short there with a stop-loss as tight as 810.25, but that pattern that has produced the target looks a bit more obvious than the ones we have been using lately to trade on. Night owls should look to the 5-minute chart for opportunities. As of 10:43 p.m. EDT, the futures were bouncing from within one tick of a 784.00 midpoint (A=796.75) whose ‘D’ sibling lies at 775.75.