At yesterday’s lows, the futures kissed an important trendline we’ve been monitoring for quite some time. As noted in my latest commentary, a decisive breach would send the April contract down to at least 1553.30, a Hidden Pivot, or to 1487.00 if any lower. (Note: This tout introduces the June chart, with equivalent supports at, respectively, 1551.90 and 1487.90). Camouflage tactics can give us an edge here trading speculatively from either side of the market, since in our way of looking at such things, fear and panic register only as bullish or bearish impulse legs. I’ll suggest looking for your opportunities on the 15-minute chart or less, although it might take a day or two to create some choice ‘external’ peaks to leverage. As things stand, on the hourly chart, yesterday’s downdraft left a cragless wall with no good handholds. Click here for information about the upcoming Hidden Pivot Webinar.
