ESU09 – E-Mini S&P (Last:992.75)

The futures failed to leverage the previous day’s push, fizzling out two ticks shy of a Hidden Pivot midpoint that had been flagged in yesterday’s analysis. However, the selloff did no damage whatsoever to the hourly chart, and it would take a 988.50 print to turn bearish. That’s a tick beneath a low made on the way up on August 3.  There are no appealing trades to recommend, not even for night owls, since yesterday’s low merely tested a visually obvious support from August 7.