The June contract has turned lower Thursday night after coming within inches of our all-purpose trendline. The move remains bullishly impulsive despite the so-far mild selloff, and its power should not be doubted, the thrust having exceeded no fewer than three external peaks. Camouflageurs should be prepared to buy-stop their way aboard via the 5-minute chart if a pattern like the one shown plays out on Friday. _______ UPDATE (2:23 p.m. EDT): The trade worked exactly as sketched. Entry by my instruction would have been at 1654.30, with a partial profit on 50% of the position at 1657.50, and another 25% at 1663.90, the D target. If I hear from two traders who got long according to the tout, I’ll establish a tracking position for your further guidance.
