That was quite a move we saw yesterday, but was it the start of a sustained bull phase? Probably not, is my guess. Regardless, it could set up a fine camouflage buying opportunity, since the thrust was impulsive without having gotten past the obvious 9/27 peak at 3.4835 that others may be looking at. We’ll wait for the pattern to develop further before we jump in, but if it should play out similar to the one shown, that could yield a low-risk buying opportunity. _______ UPDATE: The futures traced out a pattern unlike the one we’d needed to get aboard with little risk. The move was impulsive nonetheless, yielding a bullish pattern with a 3.6120 midpoint pivot that we can use as a minimum upside objective for the near term.
