ESH11 – March E-Mini S&P (Last:1253.25)

March E-mini S&P (ESH11) price chart with targetsThe slowest trading day of 2010 produced intraday charts for this vehicle that look like a bowling ball’s EKG.  We’d anticipated this in the weekly tutorial session and expect more of the same as the week wears on.  That said, the upward drift produced an impulse leg on the hourly chart that might prove to be exploitable if it traces out a correction similar to the one shown. Camouflage artistes should make certain that any such pullback meets all of our rules, including being equal, at least, to 0.618 of the k-A segment.