ESZ10 – E-Mini S&P (Last:1176.00)

An 1192.50 rally target given here yesterday remains valid in theory, although the price action in this vehicle has been so flaky lately that I’m not going to hazard a prediction as to when in the day it might be reached. Night owls should consider bottom-fishing at 1168.25, stop 1167.50 if the futures have gone no higher than 1177.50 first. The pattern yielding the downside target is glow-in-the-dark obvious on the 30-minute chart, where A=1186.25 and B=1167.25.