We’re using a 1480.50 rally target, but with a nervous eye on the fire escape. Most immediately, Friday’s bullish fillip looks bound for 1424.50, predicated on a move through its ‘p’ Hidden Pivot sibling at 1417.75. The week’s high came within a point of that resistance, but if Sunday night’s opening should rise above it, especially on a gap, consider 1424.50 a lead-pipe cinch. Camouflageurs searching for a way to get long should stick with the three-minute chart, where some good opportunities were signaled on Friday. If you’re keen on shorting 1424.50 without camouflage, I’d suggest a 1425.75 stop-loss. The target will remain valid as long as the 1410.75 point ‘C’ shown in the chart endures. Your shorting odds will be best if the target is hit straightaway, especially on a lunatic gap or breakaway rally Sunday night. ______ UPDATE (10:26 a.m. EDT): The futures have plunged eight points, or $400 per contract, after topping a single tick from the 1417.75 midpoint resistance noted above. If at least two subscribers report getting short, I’ll establish a tracking position for your further guidance. For now, though, cover half the position near 1410. ______ FURTHER UPDATE (10:56 a.m. EDT): Since some subscribers have reported shorting 1417.75 and covering half at 1410.00, I’ll track a position that is short two contracts (or multiple thereof) with a profit-adjusted cost basis of 1424.75. Tie them both 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.
