The futures have slightly bettered a minor target at 1606.30, presumably clearing the way to the next, 1629.80. Both are shown in the accompanying chart, as well as the 1602.90 midpoint pivot of the latter where we might look to bottom-fish a small pullback. As always, camouflage is the preferred method for initiating a trade at a Hidden Pivot midpoint. A bigger picture target at 1652.00 remains our lodestone as we trade in and out of bullish positions on the way up. The minor rally targets and midpoints should be used not only to set up ‘camo” trades, but to provide a subtly nuanced way of detecting whether the uptrend is faltering or even fixing to reverse.
