ESM09 – E-Mini S&P (Last:894.00)

We could be certain that the pounding the futures were receiving Tuesday night was just a bullish shakedown perpetrated by DaBoyz, were it not for the fact  that the selloff was preceded by an intraday high that fell  fully six points shy of an easy Hidden Pivot target. This warrants caution, and our short-term outlook would turn outright bearish if the selling were to go just a bit farther, surpassing an 889.00 low on the hourly chart that was recorded on the way up two days ago. This is all shown in the accompanying chart. _______ UPDATE (9:58 a.m.):  The futures went no lower overnight than 891.00, revealing the selloff to be just a routine shakedown by DaBoyz in thin trading. The obligatory short squeeze they engineered on the opening was impulsive, so look for them to come back to the table for seconds. Minimum potential will be to 917.75.