ESH12 – March E-Mini S&P (Last:1279.75)

March E-Mini S&P (ESH12) price chart with targetsIt has been a little more than three days since the futures last traded — about as long an interval as I might have thought permissible, legally speaking. When the E-Mini’s come back to life, however, it seems doubtful they’ll continue Friday’s sauntering pace. More likely is that they will leap up or down, impelled by some news headline.  Trouble is, the dim bulbs who bring us the news have not yet sprung back to life themselves — are more likely nursing hangovers or gazing at their own navels — and so the top stories of the hour are focused on sordid local or national events incapable of moving markets: i.e., the Iowa caucus, and the arrest of a suspect in the L.A. arsons.  Under the circumstances, the best I can do with this vehicle, analytically speaking, is to pick up with where things left off on Friday. That would imply immediate upside potential to as high as 1284.50, subject to midpoint resistance at 1263.75.  Both of these Hidden Pivots are shown in the chart, and if you determine to use either of them bullishly or bearishly, you’ll be calling the shots, since I cannot foresee how DaBoyz will manipulate the New Year’s opening hour. _______ UPDATE (10:21 a.m. EST): DaScumbags’ algorithms have short-squeezed the opening for 250 Dow points, locking out all traders except those who were foolhardy enough to be on board at Friday’s close. The so-far high has fallen a few points short of the 1284.50 target, which remains valid.