ESU10 – September E-Mini S&P (Last:1074.00)

September E-Mini S&P (ESU10) price chart with targetsBears can take their pick from among a dozen fetching patterns that all point lower, some of them much lower. One I rather like implies the futures could fall to as low as 992.25, and quickly, if DaBoyz pull the plug. The sibling midpoint support of that target is 1060.75, and we should therefore look for a bounce from that number to confirm our worst suspicions.  The pattern is shown in the accompanying chart. Since we should never rule out the possibility of a well-orchestrated short squeeze, let’s use a print at 1084.25 today to warn of trouble.