ESH11 – March E-Mini S&P (Last:1260.50)

March E-mini S&P (ESH11) price chart with targetsIn yet another burst of psychotic exuberance, the futures are up nearly eight points late Sunday night. We can still try shorting 1262.75 and/or 1265.00 with very tight stops, but these trades are now recommended for night owls only, since I’d rather not risk getting in the way of an opening-bell stampede if that is how Wall Street’s crooks, clowns and child molesters intend to kick things off in 2011.  If both of those Hidden Pivots are swept aside, expect the silliness to continue to at least 1273.75 (also shortable, stop 1274.25), at which point the Dow Industrials will be up about 150 points.