ESM11 – June E-Mini S&P (Last:1331.00)

Shortly after 3 a.m., the futures were in their umpteenth feint toward a 1336.50 target that I’ve drumrolled to death. The short I’d recommended from a lesser pivot at 1335.25, stop 1336.25,  is still valid, although I am not expecting it to do anything magical.  DaBoyz are clearly looking for some piece of news, any piece, to put the squeeze on shorts. If a shutdown of the government is not sufficient to trigger the requisite exuberance, then perhaps buyers really are running out of steam.  _______ UPDATEThe futures topped at precisely 1336.50 then sold off moderately, falling so far to 1326.75.  While it would be nice to think that we have caught the exact top of the Mother of All Bear Rallies, we’ll just have to wait and see.