Camo traders should be looking to get long here, since a ‘buy’ signal has been tripped on the weekly chart (see inset). The signal came at 93.11, and although $2.88 of implied entry risk is way beyond our limit, you may be able to cut that down to under 0.25 cents on charts of 5-minute degree or less. Once long, you’ll be shooting for a rally to at least 95.99, the midpoint resistance of the pattern. _______ UPDATE (1:55 p.m. EDT): This morning’s mini-moonshot peaked at 95.87, a scant 12 cents from our target. Any ‘x’ entry trigger would have worked painlessly, although catching the first and best of them at around 9:21 a.m. would have required quick reflexes. You also would need to have heeded the target when exiting, since detumescence/relapse was almost as precipitous as the rally.
