Yesterday’s soporific performance left nothing to entice, let alone compel, us to trade. If the futures are momentarily too tired to try to out-think traders — how refreshing would that be? — we might look for them to drift lower until they meet with the obvious support of the 1332.75 low recorded on March 6. Alternatively, buyers would need to goose this vehicle above 1385.25 to turn the hourly chart unambiguously bullish once again. _______ UPDATE (11:32 a.m. EDT): This morning’s manic short-squeeze has pushed the futures to a so-far high of 1384.50 — about as far as they can go without looking impressive or signaling anything of technical significance. Assuming DaBoyz seize the advantage an eventually maneuver this vehicle above the 1385.25 threshold noted above, we’d be looking at a further run-up to 1394.50 (15m, A=1353.25 on 4/10, and B=1388.50 on 4/12). Once 1385.25 has been surpassed, a pullback to the p midpoint at 1376.75 should be regarded as a great buying opportunity — presumably via camouflage.
