ESZ11 – December Mini S&P (Last:1210.00)

The recovery in the second half of yesterday’s session stalled at the 1214.50 midpoint resistance of the pattern shown, but if it gives way, look for a follow-through to at least 1236.00, its ‘D’ sibling. Since Euro-angst remained unmitigated yesterday afternoon, we should probably allow for a negative outcome as well. If it comes, the first place we might look for a turn would be around 1180.75.  That’s a Hidden Pivot support, but I don’t recommend using it for bottom-fishing (other than via camouflage), since it coincides with some structural supports created last week. _______ UPDATE (12:18 p.m. EDT):  A powerful rally sent the futures soaring 25 points today — to a 1235.75 high just a single tick from the target I’d proffered. I hadn’t explicitly advised a short there, but I hope you were able to make some hay either coming or going.