ESM11 – June E-Mini S&P (Last:1321.00)

We are short from 1363.00, shooting for a gain of at least $5000 per contract. That means we’ll let this rally run against us, notwithstanding that we came within a point of predicting the low of the 55-point selloff that produced yesterday’s bottom. At the close, the futures appeared headed to 1333.50, subject to midpoint resistance at 1324.75.  If you have no position, you can short the higher number with a three-tick stop-loss.