ESM09 – E-Mini S&P (Last:859.75)

Friday’s peak occurred exactly where expected, and although the rally threatened to break above the 871.25 pivot, it ultimately failed by a single tick to trip our alarm. That would have warned of more upside to at least 890.00; instead, the futures sold off moderately into the close and continued to ease lower Sunday night.  The selling didn’t look very serious, though,  and we should infer that any further weakness will be reversed in the early going Monday.  The first hint that the weakness is real, not stage-managed, would come on a print overnight at 853.50.