ESM13 – June E-Mini S&P (Last:1555.00)

It’s Sunday night, and the bullish lunatic fringe appears to have recovered its composure following last week’s mayhem and jihadist intrigue. At the moment, they’ve got the futures up about 8 points, equivalent to 100 on the Dow.  The move is NOT yet bullishly impulsive even on the lowly 15-minute chart (see inset), but DaBoyz could remedy that with a relatively modest push above the 1559.50 ‘external’ peak shown. This seems likely, given that any uptrending ABC you choose to examine on this chart has exceeded its ‘D’ target.  Because of the subtlety of the 1559.50 peak, night owls should look to board following any b-c pullback from just above it.  The set-up looks sufficiently appealing that I can scarcely imagine it failing.