We made a game effort to bottom-fish on Tuesday, and although the trade wasn’t a home run, it produced a profit of as much a $1000 per contract for subscribers who’d used my 1249.20 target to get long. The position was stopped out Wednesday morning when the futures relapsed to new lows, and it would now appear that a further fall to 1234.20 (see inset) is in the cards. This Hidden Pivot can be bottom-fished with a stop-loss as tight as three ticks (!), but I’d recommend this trade only to those who have gotten short from current levels and who are reversing the position. Alternatively, the December contract would become an enticing bull trade on a bc-type pullback from just above the 1253.80 ‘external’ peak shown.

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