If the futures are in fact in a topping process near our longstanding target at 1624, it has become painfully tedious to monitor. To get short via camouflage, traders should nonetheless continue to look for bearish impulse legs on charts of 15-minute degree or less. As always, the goal would be to come away from even bad trades with a small profit or a scratch. A decisive move higher could be expected to generate another shorting opportunity near the 1646.75 target shown (see inset), but my gut feeling as that there has been too much consolidation already to propel the rally a mere 23 points higher. An alternative interpretation is that the 1629.75 target associated with A2 could still contain the move.
