ESZ10 – E-Mini S&P (Last:1184.75)

E-mini S&P (ESZ10) price chart with targetsWith the Dow down 150 points in the early going yesterday, bears might have imagined they had the bad guys on the run. Alas, a brisk torrent of OPM came rushing back into shares, inflating them like a shot of propane lifting a hot-air balloon.  All of the manufactured excitement didn’t leave much for us in the way of opportunity, but if you’re looking for action, I’ll suggest trying the bottom-fishing gambit shown in the chart.  I won’t mention the Hidden Pivot itself in this tout so that it can be an “unadvertised special.” _______ UPDATE (8:59 a.m. ET):  The futures took a 3-point bounce from 1186.00, so the trade was hypothetically a winner, although not a big one.  The futures subsequently dipped to 1185.00, and although a 7-point rally ensued, the damage had already been done, signaling the weakness that has followed.  It yields an 1175.25 target, which you can bottom-fish with a stop-loss as tight as two ticks.