One step forward, two steps back. At this rate, 2012 could come and go before the futures reach some of our more ambitious targets. A less ambitious one at 1316.75 is where we should set our sights for now, and it would become an odds-on shot if and when the futures settle above a lesser target at 1301.75 broached here yesterday. The higher number’s provenance is shown in the chart. Night owls should look for ‘camouflage’ opportunities on the 15-minute chart or less — specifically via an external peak at 1292.75 that was within a hair of being exceeded.
