A minor correction target at 1712.50 sticks out on the three-minute chart, although the hourly says that any slippage could lop off an additional $9, sending the futures down to 1703.90 in search of traction. The midpoint support — now a resistance — of the larger pattern lies at 1748.60, so any rebound to that number should be scrutinized by camouflageurs looking for tradable opportunities. The same goes for bottom-fishing at either of the two downside targets, but the lower will probably be the safer bet. ______ UPDATE (8:42 a.m. EDT): Although I won’t assume subscribers caught this trade, it would have been easy to get aboard overnight, or later in the morning at 1726.90, when the futures set up a 40-point thrust with the following ‘camo’ pattern on the one-minute chart: A=1710.90 (9:39 a.m. EDT), B=1729.50, and C=1722.20. Take a look at this one, since impulse leg and abc coordinates had absolutely everything we look for.
