ESH10 – E-Mini S&P (Last:1074.75)

If the futures are unable to slither above Tuesday’s 1077.00 high — a coin-toss bet, as far as I can tell — look for a selloff to at least 1048.25, a midpoint support that can be bought with a stop-loss as tight as 1.00 point. A close below it would hint of more weakness over the near term to as low as 1019.50, a Hidden Pivot. Alternatively, an upthrust can be expected to reach 1080.25 before buyers are seriously challenged. _______ UPDATE (3:40 p.m. EST): With 20 minutes left in the session, the futures have gotten as high as 1078.00, leaving just a little bit more upside relative to our 1080.25 target.  If it gives way easily, that would telegraph more strength to a least 1092.50