Yeah, yeah, I know. Yesterday’s rally felt absolutely fabulous! Color me slightly skeptical, though — skeptical enough that I’m going to continue to take this uptrend’s vital signs each and every step of the way. Which means that we cannot ignore the fact that the $65 reversal failed to surpass even a single ‘external’ peak on the hourly chart (see inset). Bulls could easily remedy that today with a print at 1728.00, but let’s not jump the gun. Camouflageurs will likely find themselves in the midst of a riot this morning, so I won’t even pretend to offer you an easy way in. However, you’ll have a 1741.70 target to shoot for, subject to confirmation by, and possible resistance at, 1717.70, the midpoint pivot associated with the target. My hunch is that the first impulsive ABC pattern that takes out Wednesday night’s 1714.20 so-far high will produce a winning trade. _______ UPDATE (11:06 a.m. EST): And it did: with ABC coordinates on the 10-minute chart at, respectively, 1703.70 (4:30 a.m.), 1719.80 and 1713.20. Entry was triggered around 6 a.m. at 1717.30; then partial profit-taking on half the position at=1721.30, and a second round of profit-taking at 1729.30 (aka ‘D’).  For your further  guidance, I’ll track a single, remaining contract from an initial buy of four. It’s effective cost basis, reduced by paper profits taken so far, would be 1701.30. For now, used a fixed stop-loss at 1713.10, since a print there would turn the lesser charts impulsively bearish.