An 1139.75 rally target disseminated here yesterday morning held for nearly five hours until a flurry of panicky short-covering on the close turned it into suet. Use 1255.75 as an upside target for now, predicated on a push through its sibling midpoint at 1248.75. There’s no pretending we can find good camouflage after yesterday’s rampage, but that could change if Wednesday night’s action creates a price-bar forest of tedium from which we can extrapolate a microscopic but tradable A-B impulse leg. My suggestion to night owls looking to catch the next northbound express is to look for such an opportunity on charts of 10-minute degree or less.
