ESM13 – June E-Mini S&P (Last:1573.50)

The clock ran out on yesterday’s slow-motion short-squeeze, leaving the futures a couple of ticks shy of the 1562.00 rally target shown.  What you should notice first, however, is the fine ‘camo’ opportunity that followed the creation of a point ‘B’ high just a tick above a prior ‘external’ peak (labeled N in the chart).  Granted, the double bar ‘C’ low is not exactly perfection. But the  trade the followed entry at ‘x’ was manifestly worth a B grade nonetheless because bulls would have experienced little pain once aboard.  Our next rally target is 1564.00, and it can be found on the hourly chart using the following coordinates: A=1536.25 (4/19 at 10 a.m. EDT); B=1557.50 (4/21 at 10:00 p.m.).  Since 1553.25 is the pattern’s p midpoint, night owls might look for a camouflage entry opportunity on a pullback to that number.  ________ UPDATE (11:42 a.m. EDT): The algos have had little trouble pushing this projectile through minor Hidden Pivot targets on the hourly chart. The last of them lies at 1579.00 (A=1530.75 on 4/18), a logical minimum upside projection for today.  Camo traders can try shorting there, but I’d risk no more than three ticks theoretical per contract.