ESU09 – E-Mini S&P (Last:1048.00)

If I were short right now, wearing the pain on my sleeve, I’d have grown so despairing as to create near-certitude in the minds of contrarians that a very nasty swoon is at hand. We should therefore pay close attention to any signs of trouble — meaning, for one, pullbacks that exceed their ‘D’ targets. While we’re at it, and because no signs of trouble have developed yet, let’s try bottom-fishing at the midpoint shown in the chart.  The trade will of course be viable only if the downtrend plays out in a fashion similar to what I have drawn.  (It doesn’t have to be exact, though, and ‘C’ could be higher than the one shown). My instructions are non-verbal, but the method you are to use will be accessible to all who have taken the Hidden Pivot course. I would encourage you to share your tactics with those in the chat room who may be less experienced. _______ UPDATEWe had the right idea, although the pattern shown in the chart missed the actual low by two ticks.  That low occurred at 1046.00, but our bid would have been at 1045.50.  The fact that a retracement abc was unable to get to its midpoint telegraphed the strength that unfolded on Wednesday. As a practical matter, the buy was subsequently signaled on the first bullish impulse leg that occurred after 1045.50 was missed on the pullback. This occurred on the opening, on a 1058.00 high.