ESU11 – September E-Mini S&P (Last:1270.75)

Tonight’s action is tedious and tiresome even for a Sunday night, having failed to do much more than tie Friday’s low.  As is the case nearly every Sunday night, DaBoyz are attempting to dry up selling so that they can run the index futures higher ahead of Monday morning’s opening. The September contract is ostensibly working on a bullish impulse leg begun from Thursday’s 1252.25 low, but it is not bullish enough that we should look for any special opportunities. Night owls should use the 10-minute chart for camouflage nonetheless if boredom sets in.  Potentially most useful for getting long would be the 1267.50 peak recorded Friday at 2:50 p.m. EDT. ______ UPDATE (10:42 a.m. EDT):  The pattern implied above (30m, A=1257.50, B=1269.50, C=1261.75) did indeed work, playing out to within a single tick of its 1273.75 target.