The December futures made good progress yesterday toward a Hidden Pivot at 1728.00 that is our minimum upside objective for the near term. Trading possibilities for Wednesday night were limited, but I’ve sketched out the best opportunity we might see in the hours ahead for a camouflage “buy.” If the rally in progress around 9 p.m. EDT pops above peaks #2 and #3 and then pulls back without having exceeded #4, that could set up the B-C leg where a trade could be initiated. Its immediate potential would be to 1680.30 (30m, A=1654.40 on August 2 at 9:30 p.m. EDT). Alternatively, there’s a concurrent correction that projects to 1654.20, but I don’t recommend bottom-fishing there due to its close proximity to the August 2 low.
