ESM11 – June E-Mini S&P (Last:1351.50)

June E-Mini S&P (ESM11) price chart with targetsThe so-far low Monday night is 1353.50, the exact midpoint pivot of the pattern shown. Using the 5-minute chart, pivoteers can get long using camouflage on any impulsive thrust if the low has not been taken out.  If it’s breached, however, you can infer the more downside awaits to at least 1345.25, the midpoint’s ‘d’ sibling. It can be bottom-fished with a stop-loss as tight as three ticks. _______ UPDATE (8:17 p.m. EDT): From a recent high of 1373.50, the futures fell yesterday to an intraday low just two ticks from the 1345.25 forecast.  Officially we did nothing, however, since our bid missed by a hair.