ESU09 – E-Mini S&P (Last:998.25)

All signs were pointing higher at the end of yesterday’s regular session, although it was only on the lowly five-minute chart where Wednesday’s rally managed to look like hot stuff. There’s little point in projecting a Hidden Pivot top, since any thrust is destined to do battle with heavy supply around 1015.  (For the record, there’s a Hidden Pivot resistance at 1013.50, subject to the lesser resistance of a midpoint at 1002.50 .) The futures topped near 1015 on three separate days in the last two weeks, and a mere bluff is not apt to get past thoe tops without some frenetic short-covering to provide some cover.