ESM12 – June E-Mini S&P (Last:1314.75)

June E-Mini S&P (ESM12) price chart with targetsThe futures have rallied energetically after bottoming at exactly 1287.25, the Hidden Pivot correction target flagged here Sunday night. Now, shortly before midnight, they’ve stalled enroute to a minor-rally target at 1319.25.  This number can be shorted by nimble Pivoteers, but it will probably be more valuable for assessing the strength of the trend.  Notice in the chart that, on May 17, there is one external peak below the ‘D’ target and one just above it. An unpaused move through all three resistance points (one of them, of course, “hidden”) would be warning bears to step back for the time being. Traders should note that a ‘b-c’ pullback from just above either of the two external peaks could yield an excellent opportunity to get long via camouflage.  Calling the turns precisely and confidently is easier than you might think.  Want to learn how? Click here and get a $50 discount to the upcoming Hidden Pivot Webinar on June 6-7.