ESH10 – E-Mini S&P (Last:1060.75)

The downside target equivalent to the one I’ve provided for the Dow in today’s commentary lies at 1021.00, and I have trouble imagining that it won’t be reached sometime this week.  The midpoint Hidden Pivot with which it is associated is now resistance, and it seems tonight to be containing whatever ebullience may have spilled over from Friday afternoon.  I’d tout 1061.00 as a tightly stopped short if this were happening intraday, but there is too much feral activity on a Sunday night to risk it.  However, pivoteers who can find camouflage enough to whittle the stop-loss down to just a few ticks are encouraged to give it a try, shorting with the microtrend.