I’m providing tracking guidance for four contracts shorted yesterday at 1417.75, since subscribers reported fills at that price, a Hidden Pivot midpoint resistance that had been noted in Monday’s ES tout. Assuming two contracts were covered at 1410.00 based on an instruction sent out intraday, the effective cost basis for the two that remain is 1424.75. For now, they should be tied to a stop-loss at 1417.50, day order, but with an o-c-o (one-cancels-other) order to cover one at 1405.25. Despite this trading position, my bias remain bullish, with a 1480.50 target. Night owls (possibly trading ‘against the box’) can use a 1412.25 bid, stop 1411.50, to bottom-fish the pattern shown. If it fills, I’ll provide tracking guidance. _______ UPDATE (11:32 a.m. EDT): We covered the short for a paper profit of $360 per contract. Getting long at 1411.25 proved impossible, however, since the futures went no lower than 1413.75 overnight before getting short-squeezed on the opening to a so-far high of 1424.75.
