In the chat room, in response to a query, I suggested incorporating yesterday’s hysterical swoon into any target calculations or camo strategies. I’m curious myself to see whether this works, but regardless, there is likely to be something to learn. On the lesser charts, the pattern itself is clear if erratic, and it yields a short-term rally target at 1583.00. Notice that price action relative to the midpoint support is increasingly looking like a consolidation, implying that camo traders should position from the long side. There are no true ‘external’ peaks to leverage for this purpose, but the three I’ve highlighted should suffice.
