YMU09

YMU09 – E-Mini Dow (Last:9793)

– Posted in: Current Touts Free Rick's Picks

Late Wednesday night, the futures were playing toe-sies with a Hidden Pivot rally target at _____ (see chart).  The actual high so far is ____, and it could go either way.  Notice that I have used, not the one-off 'A' here, but the obvious one. That's because I needed to project the highest target possible from the existing pattern. If it is exceeded, we'll have to move up to the daily chart to find a rally pattern yet to play out. The most obvious one, going back to the March low, yields a bear rally objective of 10431.

YMU09 – E-Mini Dow (Last:9224)

– Posted in: Current Touts Free Rick's Picks

The futures crushed a minor midpoint support at 9180, suggesting the weakness will continue down to at least 9111, its 'D' sibling. You can bottom-fish there with a very tight stop-loss, but my hunch is that the trade will work better if the target is hit in the first 90 minutes or so.  (Note: It would be invalidated by a thrust above 9249.) Alternatively, if the futures take flight, look for the frenzy to hit 9395 before the rally stalls.

YMU09 – E-Mini Dow (Last:9046)

– Posted in: Current Touts Free Rick's Picks

We deconstructed the Mini-Dow's hourly chart during yesterday's tutorial, discovering that this vehicle's recent high at _____ fell close enough to a longstanding rally target at _____ to warrant our close attention. The weekly chart yields a slightly different perspective, but one that could prove useful nonetheless.  I've flagged its two targets at, respectively, ____ and ____ and consider these high-odds objectives. Moreover, if the first is exceeded on a closing basis or by more than 15-20 points  intraday, odds of a move to the second would shorten significantly. Since we never want to chisel these numbers in stone, we'll also be paying close attention to any signs that the bear rally may be dying. To be more specific, this would occur with the creation of a bearish impulse leg on the hourly chart.