The futures were wafting toward a presumptive Hidden Pivot rally target at 1241.50 Monday night, but a bigger picture implied a bull trap in gestation. That’s because Monday’s downdraft was impulsive on the hourly chart (see inset), but the E-Minis would nonetheless become a speculative buy at either the ‘p’ or ‘D’ hidden supports shown. The same pattern could prove to be shortable as well, but you’d need to initiate the trade on a lesser chart with a downtrending abc pattern that would subject you to theoretical risk of no more than five ticks.
