I’ve deliberately underpublicized a major rally target at 1594.25 so that it has a better chance of working. We examined the pattern that produced the target during yesterday’s weekly tutorial session for Hidden Pivot Webinar grads and found that it has aged without losing any sex appeal. Notice in the chart that the k-A and B-C segments have a strong sibling resemblance. Another thing to like is that the elongated C-D segment will have obscured the idiosyncratic perfection of the entire pattern from the eyes of Gartley-pattern chartists and others.
Pretty as this picture is, I strongly doubt that the futures will get by it without providing a tradable pullback. We’ll attempt the short via camouflage even though I expect the top to occur within 1.00 point of where it should. The task will be made easier if we work this opportunity together, so I would ask Pivoteers who have been dogtailing the E-Mini S&Ps in the chat room lately to signal the camo short in timely fashion if it turns up on the very lesser intraday charts. I’ll be there myself to help make sure we get this one right, since it’s the best shorting opportunity we’ve seen since late February. _______ UPDATE (April 12, 1:36 a.m. EDT): I opened an online trading session for 90 minutes yesterday so that we might look together for the opportunity detailed above. At this point, shorts should be attempted only via camouflage for two reasons: 1) the futures have traded close enough to the target that it has effectively been fulfilled; and 2) I still expect a tradable top to occur at or very near 1594.25. Using camouflage, we can avoid getting impaled if the futures exceed the target, but more to the point, we can take advantage of any subtle opportunities that develop without exposing ourselves to much risk. A few chat-roomers have been dog-tailing this vehicle, and this could be a good opportunity to show your stuff.