Savage stupidity held U.S. index futures in thrall early Thursday morning, forcing the Mini-Dow up a little more than 200 points so far. This was not enough to produce a bullish impulse leg on the hourly charts, however, and it suggests that buyers may soon regret their unwarranted display of ebullience. Even so, we’d have to concede they’ll have a fighting chance if they can boost the futures above the 11026 peak identified in the chart. Camouflageurs should pay heed, since this could afford an easy opportunity to fun with the mindless herd, if only for a short while.
