ESH12 – March E-Mini S&P (Last:1346.00)

March E-Mini S&P (ESH12) price chart with targetsCome tomorrow, the 1353.00 pivot will have held for a week, hinting that the short-covering that has been driving stocks from one plateau to the next is not of the rampaging variety; rather, it is of the quietly psychotic variety, premeditating each new leap on the basis of whatever the latest, fabricated GDP/payroll numbers and “good” news from Europe will allow. Absent any truly horrifying geopolitical news — and I’m not sure that even that would restrain buyers — we should expect the futures to break out shortly and head for the 1362.50 Hidden Pivot noted here earlier.  Traders can test the water near that price with a tightly managed short, but camouflage is advised because of the rally pattern’s less-than-stellar pedigree.  Want to learn how to nail price reversals like a pro?  You can learn to do it in as little as six weeks. Click here for information about the upcoming Hidden Pivot Webinar and receive a $50 discount.