ESM10 – June E-Mini S&P (Last:1100.50)

June E-mini S&P price charts with targetsI had thought the 1093.00 rally target furnished here yesterday would handle whatever silliness bub-bub-bubbled up.  Apparently not.  The number was the Hidden Pivot midpoint of the bullish pattern shown, and its breach portends more buying to its ‘D’ sibling at 1118.50. That number can be chiseled in stone, incidentally, since, as far as I can surmise, nothing short of a collision between Earth and an asteroid will prevent it from being reached. Since the trajectory of the rally is unlikely to be a straight line — especially with Monday’s highs in the way — turning the move into opportunity will be your task. I’d suggest betting the pass line in any case, since waiting to short the trend at 1118.50 with our customary three-tick stop-loss sounds so pat that I’d be heartbroken if it didn’t work perfectly.