ESU11 – September E-Mini S&P (Last:1189.25)

September E-Mini S&P (ESU11) price chart with targetsAs of around midnight, Tuesday night’s lows have fallen within three ticks of an 1185.75 midpoint support whose breach would be telegraphing more weakness over the near term to at least 1175.50, its ‘d’ sibling.  The bounce thus far is ostensibly bullish, but it will have to go a bit further to provide us with the kind of easy entry opportunity that we look for.  Specifically, traders should use the 1190.50 peak-let shown in the chart for camouflage, provided the thrust that exceeds it slightly retraces to set up a C-D follow-through with a conventional ‘x’ entry point.  All of this is sketched out in the chart, so check it out.  Want to learn how to identify and use “camouflage’ trading set-ups yourself in just six hours? Click here for information about the upcoming Hidden Pivot Webinar. _______ UPDATE (10:34 a.m. EDT):  A pattern very similar to the one shown in the chart played out overnight, generating a C-D rally that got within two ticks of its 1199.25 target. The ‘buy’ signal came at around 5 a.m. for an entry at 1190.75.  In theory, the trade could have produced a gain of as much as $400 per contract if you exited at the target.  The futures have moved higher since to a so-far peak at 1206.75, so if you held onto any part of the original position, you’d be reaping further gains.  The 1227.25 target given here earlier remains valid.