Night owls can short 883.25, stop 884.25, until the opening bell. You could also try getting long with a buy-stop limit at 875.00, just above the Hidden Pivot midpoint of the pattern shown in the chart. The futures have stalled almost precisely at that midpoint, and any progress above it would therefore imply not only that the ‘D’ target itself, 883.25, is likely to be reached, but that its stopping power will be felt very precisely. The only factor that prevents this trade from being a Pick of the Day is the single-tick proximity of the target to the look-to-the-left peak. ______ UPDATE: The trade would have worked nicely, since the futures fell six points after hitting 883.25 for the first time overnight. They subsequently rallied back to 883.75 before relapsing again to 876.50 around dawn. The fact that ES eventually got past the target was ever so mildly bullish, as was its move above a look-to-the-left peak at 883.50 recorded along the wall of Monday’s decline.
