The ginned-up short-squeeze that ended yesterday’s session was undeniably impulsive and may have created an avenue of opportunity for night owls. The pattern is just lazy-ugly enough to appeal to no one — no one but us, that is, especially if it generates the kind of single-bar ‘C’ low we relish. That’ll likely be good enough to get point ‘x’ buyers to the ‘p’ midpoint, but you’ll need to make sure you take a partial profit there if it becomes available, since breakouts in the wee hours have been relatively rare recently. _______ UPDATE (11:11 a.m. EDT): The futures sank without signaling any buying opportunities of the kind we look for. They’ve traded as low today as 1402.00, but more downside to 1390.25, the nearest Hidden Pivot support, appears likely.
