ESM09 – E-Mini S&P (Last:899.75)

DaBoyz were playing their cards close to their vest Wednesday night after taking the futures down to within three ticks of an obvious Hidden Pivot target at 898.00 Night owls can try bottom-fishing with an 897.00 stop-loss, but you’ll be on your own if the order fills.  At 898.00 the selling will have retraced 50% of this week’s rally, so a breach of the double support would hint of more weakness on Thursday. The opening will be unpredictable nonetheless, and we shouldn’t be surprised to see a down day begin with the illusion of firmness. _______ UPDATE (1:36 a.m.): 898.00 gave way, yielding a marginal low so far at 895.50. Bottom-fishing 898.00 with a 1.00-point stop-loss would not have worked, since the expected rally carried only 2.50 points from the 897.50 low — two ticks shy of the 3.00 points needed to trigger a tailing stop or partial-profit-taking.