ESM11 – June E-Mini S&P (Last:1304.00)

June E-mini S&P (ESM11) price chart with targetsWe should know soon whether the selloff in the final hour was prelude to a bear trap, since the weakness has tapered off to nothing Monday evening.  If the so-far moderate decline merely provides running room for DaBoyz to apply the ol’ short squeeze, you should infer they are capable of moving this sludge-bag to as high as 1324.60 within the space of 90 or so minutes. In the process, key resistance would occur at 1313.25, a Hidden Pivot midpoint, as long as 1301.75 (aka point ‘C’) has not been exceeded to the downside.