ESZ11 – December Mini S&P (Last:1248.25)

December Mini S&P (ESZ11) price chart with targetsThe last few rally patterns on the hourly chart have reached their ‘D’ targets, so the worst we should be right now, short-term, is neutral.  And yet, it’s hard not to be rooting for the stock market to drop-the-hell-dead, since it will take nothing less than that to start Wall Street on the long, long road back to integrity.  Under the circumstances, and so that we don’t come to the races on Tuesday with no horse to bet on, let me suggest using the 1241.00 target shown as a telltale whose breach would earn just a little respect for bears.  Bottom-fishing near 1241.00 using ‘camouflage’ is recommended, since a print at that price will be viewed by our competition as a breakdown beneath Friday’s 1242.00 low. What do we care if we can test the water without getting wet.