ESZ14 – December E-Mini S&P (Last:1988.75)

After a ferocious, short-squeeze rally of 10% from mid-October’s lows, the futures show no sign of slowing down. Yesterday they exceeded yet another peak on the daily chart, stretching their still-uncorrected winning streak to ten days. We can use the 2037.50 Hidden Pivot target shown as a minimum upside objective for the near term, since, as far as I’m concerned, it is all but a foregone  conclusion that it will be achieved. We can also plan on getting short at the target, with profits banked on the way up providing a generous cushion against the risk of intercepting the rally.