If our perspective is the 240-minute chart, yesterday’s rally was a yawner. Even so, we’ll need to respect the impulsiveness of it, along with the prospect of a ‘c-d’ follow-through. The correction has already qualified as a legitimate ‘b-c’ leg, having fallen below the 1182.50 “window” line. Now, it would take a rally touching 1187.00 to trip a theoretical entry signal. Since 10 points (i.e., $500) of entry risk is about ten times what we will accept on any trade, a long entry will necessarily entail camouflage. Accordingly, you should zoom down to the 15-minute chart or lower to find your ‘x’ entry spot if and when the futures approach 1187.00. Please note that that number — though not necessarily the bull trade — would be invalidated if there’s a dip below 1176.75 overnight. _______ UPDATE (12:48 a.m. EDT): A camouflage entry at 1188.00 was possible around 5:45 a.m. and although the position was a “success,” reaching its 1188.75 midpoint, you’d have needed to reboard after getting stopped out to catch the maniacal, short-squeeze leap to 1199.75 on the opening. That, by the way, is the exact Hidden Pivot Midpoint of a 1224.00 target that comes from the same pattern that I’ve displayed (point ‘C’ was ultimately to equal 1175.75), so any progress above it would ordain more upside of 24 points.
