ESM12 – June E-Mini S&P (Last:1322.25)

The futures opened Sunday night with a gratuitous short-squeeze, suggesting that traders were having second thoughts about the crescendo of gloom they orchestrated ahead of Memorial Day weekend.  From a Hidden Pivot standpoint, the so-far 6-point goosing is inconsequential even on the 15-minute chart, let alone the hourly chart where moves worthy of a claim on our attention begin.  This one could get to the 1333.25 target of the pattern shown, implying that any trades thereupon will require a nimble touch.  Note that Sunday night’s lurch has begun from within 1.25 points of the pattern’s 1313.75 midpoint. Calling the turns confidently is easier than you might think.  Want to learn how? Click here for information concerning the upcoming Hidden Pivot Webinar on June 6-7.