ESZ09 – E-Mini S&P (Last:1091.75)

In the opening minutes of the session, the futures bottomed within three ticks of the 1087.00 target shown in the chart, then spent the rest of the day chopping their way to nowhere. Bears dominated at the close nonetheless, and we should therefore use a Hidden Pivot at 1078.00 as a minimum downside target once yesterday’s lows are breached. That number will remain viable as long as 1097.50 (aka, point ‘C’) is not exceeded to the upside first.