ESM10 – June E-Mini S&P (Last:1203.25)

I’m not going to lie and tell you how jazzed I am about the prospect of shorting 1202.50, stop 1204.25.  It’s a Hidden Pivot all right, and it seems likely to show some stopping power. But we shouldn’t kid ourselves about a possible Mother of All Tops.  Ordinarily this trade would get a three tick stop-loss, but we’ll give it a little more because…well, you never know.  If we lose the $87 that’s theoretically at risk, just remember that the last few winners in the E-Mini produced enough in theoretical gains to offset scores of $87 losers.  ______ UPDATE:   There’s $87.50 we can kiss good-bye!  But it bought us the near-certitude that ESM10 is about to cruise on up to at least 1212.50 over the very near term.  Short there too, please, stop 1214.25.