ESU10 – September E-Mini S&P (Last:1111.00)

September E-Mini S&P (ESU10) price chart with targetsWith 220 points of rally room remaining for the Dow, and at least 25 more points for this vehicle, we’ll chalk up yesterday’s dithering as a consolidation. In any event, it would take a rather large correction (i.e., 60 points) to knock the futures off-track from the 1136.50 target that I’ve projected.  I’ve reproduced a chart as a reminder of the rally pattern’s comeliness, but also to call attention to the sort of pattern that demands the use of a one-off ‘A’ (i.e., one with a point ‘B’ that has failed by a country mile to surpass some obvious high that has preceded it).