The fleeting lunge to a so-far high tonight at 1307.50 smacks of desperation and underhandedness, although a toothsome rally target at 1316.75 remains valid nonetheless. Digestion pains should lower this trading vehicle overnight, but it would still be a buy on any upwardly impulsive ABC pattern you can find on the lesser (i.e., 15-minute or lower) charts. Camouflageurs will need to be especially careful, however, since the rally could follow the creation of a bearish impulse leg similar to the one shown in the chart.
