ESM13 – June E-Mini S&P (Last:1649.75)

The fact that DaBoyz failed to rally stocks back to unchanged yesterday bears watching, since it’s been a while since anything that weird has happened. The Indoos were down 180 points at their nadir, but it should have been a piece of cake to short-squeeze a loss of that size out of memory. Assuming sellers prevail for an unthinkable two days in a row, traders should use the 1623.75 Hidden Pivot shown as a minimum correction target. We looked at this pattern during yesterday’s tutorial session and found things to like about it, including a beautifully carved, one-off point ‘A’.  Since the target is a comfortable four points above an obvious shelf of structural support created earlier this month, you can bottom-fish with a stop-loss as tight as 1622.75 — or via camouflage, which will usually be the preferred way of getting aboard.