ESU10 – September E-Mini S&P (Last:1111.25)

Five days’ worth of amazingly boring action have not altered the fact that minor targets not far above continue to beckon the futures higher. A well-advertised one at 1136.50 — short there, stop 1137.25, if you please — will still serve nicely as our minimum upside objective, but we should also be prepared for this brick to fall out of orbit if the deathly feeble buying that has held it aloft should one day dry up completely.  Diligent traders should look for bearish camouflage opportunities on the 5-minute chart. _______ UPDATE (10:54 a.m. EDT):  The futures fell hard this morning after having provided no low-risk opportunities to get short overnight. Even on the two-minute chart there were no abc down-patterns with the single-bar ‘c’ we require for ‘camouflage’.  In retrospect, the only play was to have shorted the manipulated head-fake that occurred on the day’s session’s opening bars.