ESM09 – E-Mini S&P (Last:941.00)

The rally pattern shown in the chart projects to 966.25 although I wouldn’t bet the ranch on it. That’s because the point ‘B’ of the pattern is pure sausage, having failed to surpass anything to the left of it. Still, our target will do just fine for a minimum upside projection in the midst of a runaway buying binge. Night owls looking for a stealth buying opportunity will need to get down on the 1-minute chart to find a savory allotment. As of around 11 p.m., there was a downside target at 937.00 (a=945.50 at 3:56 p.m. EDT), but it looked ugly even by my taste, and it also lay within a tick of the day’s key low.