Shortly after 3 a.m. EDT, index futures were slithering higher, unchallenged by any serious selling. Rally targets for the broad averages seemed almost too obvious to risk touting, but you can supply your own calculations, using the hourly chart, to short this one — an unadvertised special in the Diamonds — with a tight stop-loss: A=99.52 (5/26); B=102.73, etcetera. _______ UPDATE (12:12 p.m. EDT): The short never quite triggered, since this morning’s high fell 18 cents shy of the 103.44 target that would have resulted from the pattern referenced above. FYI, the so-far intraday high occurred off a garden-variety short-squeeze in the opening minutes of the session. If the high had hit our number, initiating a short on the opening would have been ideal.
