ESM13 – June E-Mini S&P (Last:1581.75)

Yesterday’s tiresome pump-priming produced a marginal new high that got the futures within four points of the 1583.00 target given here yesterday.  The weak selling that ended the day left a 10-point rally to be traded — presumably via camouflage, since the action has been so herky-jerky. Notice that after-hours selling has produced two ‘external’ peaks that can be leveraged for this purpose, and there could be more of them by the time you read this.  If you miss this opportunity, I’d recommend taking the short from 1583.00, or perhaps from 1589.00, an alternative target derived from the lower point ‘A’ (see  inset) at 1542.75.  ‘Camouflage’ is the method of choice here, since both targets used the nadir of Tuesday’s nutty swoon for a point ‘C’ low. _______ UPDATE (6:10 p.m. EDT):  The intraday high occurred at 1588.25. Shortly thereafter, a chat-roomer with some impressive camo chops, Davis, reported getting short at 1585.75. He took one contract home with him and we wished him good luck. Want to join in the fun? Click here for a free trial subscription that includes daily touts and access to a 24/7 chat room that draws experienced traders from around the world.