ESM10 – June E-Mini S&P (Last:1124.75)

We’re using  a midpoint pivot at 1098.75 as a minimum downside objective. It comes from the intraday charts and proceeds from a one-off A=1208 (April 30) as the starting point.  The support looks too valuable and tradable to risk wasting with a micro-tight stop-loss, so we should try to get long using camouflage.  In practice this will mean zooming in on the lesser charts if and when the futures reach 1101.00 or so. Thereafter, any valid impulse leg on the 3-minute chart or less should be used for aggressive buying with the penny-ante stop-loss that would apply. Anyone still short from above, when the target was first broached, should continue to scale in contracts or use a dynamic trailing stop.  _______ UPDATE (2:28 a.m. EDT):  The futures were trying to consolidate after selling off the equivalent of about 120 Dow points. This will make camouflage buying near 1098.75 the only way to go if you attempt to bottom-fish, since the tempo of the selling may have increased significantly by then.  Anything below 1098.75 would yield a new short-term target at 1088.00, equivalent to about 400 Dow points.