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

September E-mini S&P (ESU11) price chart with targetsYesterday’s constipated price action brought the futures slightly closer to a key low at 1237.50 recorded on March 17. A test of support there still seems likely, but please note that an upthrust today exceeding 1288.50 would probably leave bulls in charge when the new week begins Sunday evening. Night owls looking for a lift can try to camouflage their way aboard via a pullback from a tick or two above 1275.75.  This set-up is shown hypothetically in the inset. _______ UPDATE (11:16 a.m. EDT): An impulse leg whose strength is poorly concealed has left us with two tradable options: 1) use the  camouflage of the very lesser charts to enter on a smaller pattern; 2) wait for ‘everyone’ to get stopped out on a dip below ‘c’, then enter on the second signal. The entry trigger at 1272.00 has not yet been tripped, but it’s very close.