ESU11 – September E-Mini S&P (Last:1281.50)

September E-mini S&P (ESU11) price chart with targetsConsidering the dumbfounding stupidity of this week’s price action so far, we’ll probably do well to sit back on a Friday and let whatever happens happen. Depending on which of the two points ‘A’ shown in the chart you prefer — it’s a toss-up, as far as I’m concerned — the futures could achieve either 1294.50, or perhaps 1298.50.  Their respective midpoints have been smashed to smithereens by the short-squeeze that has developed in the early evening, so it looks like DaBoyz will finish the dubious project they began at yesterday’s lows.