YMM10

Unlike the E-Mini S&P, the E-Mini-Dow never got close to a Hidden Pivot midpoint support that we'd flagged.  It turned from 50 points above it, although this will not have bullish implications until such time as the futures push above 10722, a look-to-the-left peak recorded May 14 on the way down.

I've been projecting a tradable low at 10258, a Hidden Pivot, but any bottom-fishing should be tied to a camouflage entry strategy using the 3-minute chart or lower. That number remains my minimum downside target for the near term, and it looks likely to be reached this morning if sellers show any gumption at all.

The futures went no lower 10411 before reversing into a short-squeeze rally, but the 10258 target remains valid nonetheless and can be used for bottom-fishing with a tightly stopped bid. Alternatively, bears can probably throw in the towel for the day if buyers push this brick above 10664, since that would create a promising impulse leg on the 15-minute chart.

A midpoint Hidden Pivot support at 10258 is equivalent to the one at 1098.75 given for the E-Mini S&Ps. Camouflage entry is suggested for initiating long positions near the target, but if you'd prefer to get long with a straight limit order, bid 10261, stop 10254.  This implies that you could take partial profits on a multilot position as early as 10282 -- 21 ticks above the entry -- since the initial theoretical risk is seven ticks. ______ UPDATE (2:38 a.m. EDT):  The futures are getting hit too hard tonight to suggest this is just a routine Sunday-night gangsta shakedown.  Use a camouflage strategy if you try bottom-fishing at 10258, but be prepared for the selling to continue down to at least 10232 if 10258 fails as support.

As of around 10 p.m. EDT Sunday, the futures looked bound for 10670, a shortable Hidden Pivot (albeit a relatively risky one; a more conservative short can be initiated at 10712). That would represent a 335-point gain over Friday's close, and although it would not recoup last Thursday's loss completely, it would handily exceed the day's recovery high, creating an impressive bullish impulse leg in the process. _______ UPDATE (9:09 EDT):  The rally now measures to as high as 10937, well above last Thursday's pre-swoon high of 10865.  A pullback in the meantime to (precisely) 10569, the target's sibling midpoint, would telegraph the next thrust.