ESU10 – September E-Mini S&P (Last:1100.00)

The futures were taking a second leg down to at least 1092.25 when the session ended. That number, a midpoint Hidden Pivot support, will work for night owls as a place to try bottom-fishing.  A three-tick stop-loss is appropriate, but if it’s hit hard, a ‘d’ target at 1080.25 will become the new minimum downside objective. _______ UPDATE (3:19 p.m. EDT): The bounce from an overnight low of 1092.25 amounted to a barely tradable 3.75 points. ES then relapsed to a very short-squeezable pre-opening low at 1083.50. (The news backdrop was that Q2 GDP was even more anemic than had been expected.)   As of this moment, the squeeze has continued in the form of an artificial, Friday Special rally. This hoax has yet to create a bullish impulse leg even on the lowly 15-minute chart, but I wouldn’t rule out the possiblity, since DaBoyz still have another 45 minutes to play on the nervous Nellies’ fears.