ESZ10 – E-Mini S&P (Last:1176.75)

E-mini S&P (ESZ10) price chart with targetsYesterday’s action was just dawdling until the final hour, when the weakest of impulse legs popped up on the lesser charts. This obliges us to carry at least a faintly bullish bias into the fray today, although we needn’t ratchet up the enthusiasm unless 1187.00 is decisively exceeded intraday, or better yet on a closing basis. That’s the midpoint resistance of the pattern shown, and if it gets roundly thrashed we should infer that buyers are intent on 1199.75, its ‘D’ sibling. _______ UPDATE (1:06 a.m. EDT):  The futures were getting manipulated lower early Wednesday morning, targeted on 1172.00, or perhaps 1167.25 if it’s breached. That second number would make a dandy place to go bottom-fishing were it not precisely coincident with a key low recorded last Thursday.