ESZ11 – December Mini S&P (Last:1255.25)

December Mini S&P (ESZ11) price chart with targetsBy reversing without having achieved a downside target at 1201.25, the futures are hinting that bears should not try to impede this rally too aggressively. We can always short it fearlessly using camouflage, of course, and even come away with a profit if we’re wrong. But it will probably be easier to go with the bullish flow for now, for the reasons stated above.  Most immediately, that would imply leveraging the 1305.25 target of the pattern shown.  The futures have already slightly exceeded its ‘p’ sibling at 1257.00, so the rally looks like a ‘go’.

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