ESZ12 – December E-Mini S&P (Last:1397.75)

Friday’s tepid price action did nothing to alter a forecast that had called for a moderate decline to at least 1385.25, a Hidden Pivot target.  Moderate weakness was continuing Sunday night, but the decline was likely to be cut short by Wall Street’s closure on Monday due to the hurricane. As noted in the chart — the same one reproduced here on Friday — the 1385.25 target is less important for trading purposes than for whatever we might speculate after it’s hit.