Friday’s pathetic excuse for a rally died within a single tick of the 1406.00 midpoint resistance shown. If that Hidden Pivot is exceeded come Sunday night, however, look for short-covering to drive the futures at least to its ‘D’ sibling, 1425.50 (which number, incidentally, you can short with a three-tick stop-loss). Camouflageurs can try getting long on a B-C pullback from just above the external peak at 1407.75 visible on the 3-minute chart (3/28 at 10:06 a.m. EDT). _______ UPDATE Sunday, 9:09 p.m.) The unmitigated scumballs who work the night shift (full disclosure: I was a floor trader myself for 12 years and am using the word ‘scumballs’ affectionately) have done what they do best on Sunday nights — i.e., gapped the futures higher on near-zero volume. This routine rip-off is bullishly impulsive, of course, but it has left no subtle camouflage opportunities for us to exploit at the moment. My gut hunch is that a tradable ‘X’ will come following the second ‘C’ of this so-far pattern on the 15-minute chart: A=1401.50 (4:15 p.m. EDT on March 30), B=1410.25. In any event, absent short-squeezable news overnight, there is not likely to be sufficient buying power for DaBoyz to attempt to run stops above Wednesday’s 1412.25 peak. Under the circumstances, we should look for a relatively shallow correction overnight to set up a short-squeeze goosing just before, or immediately after, Monday’s opening bell.
