
Yesterday’s feverish chop had a moderately bullish bias and a commensurately modest target: 1160.10. It is an odds-on bet to be achieved, since, as of Wednesday night, the futures had pushed slightly past the 1158.40 midpoint resistance. A print at 1160.10 would suffice to refresh the bull on the very lesser charts, but we should require a close above 1161.00 to avoid jumping the gun. The spaces betwixt each of the three numbered peaks in the chart leaves ample room in theory for the development of a camouflage entry opportunity.