ESM12 – June E-Mini S&P (Last:1375.75)

Timely profit-taking on Friday has helped us weather an off-hours avalanche, but we’ll still need to manage the risk of what remains of our position: long two contracts @1373.50. Accordingly, I’ll recommend exiting a third contract at currrent levels of around 1375.50 and tying the last to a 1372.25 stop-loss.  The two-minute chart would be impulsively bearish on a print at that price, since it would exceed by a single tick the last “external” low short of Sunday night’s so-far bottom at 1371.75. Finally, on a one-order-cancels-other basis opposite the stop-loss, offer the final contract to lcose at at 1385.50.  _______ UPDATE The stop-loss survived the entire session as the futures traded as high as 1382.75.  If you still have any contracts you’re on your own, since the trade has grown too boring and labor-intensive for me