ESM11 – June E-Mini S&P (Last:1269.75)

June E-mini S&P (ESM11) price chart with targetsThe broad averages gave it all back and then some on Friday, justifying our skepticism toward the previous day’s surge.  Now, the E-Mini S&Ps looked headed down to at least 1251.50, the Hidden Pivot target of the pattern shown. However, this number is intended as merely a minimum downside objective for Monday, and if it should fail easily, we must heed the possibility that the selling is about to turn into an avalanche.