With the futures unchanged at the moment, DaBoyz are taking mincing steps early Monday morning, a reliable sign that they’re fixing to take stocks higher if there is good news, or at least an absence of very bad news, with which to trigger off a short squeeze. We have some very bullish long-term targets to guide us, but for trading purposes the pattern shown is the one to use. It projects a short-term rally top at 1679.25 that is already an odds-on bet, since the p midpoint Hidden Pivot with which it is associated, 1662.75, has already been exceeded by a decisive 4.00 points. Since the index is in uncharted territory, camouflage traders looking for a good long-entry signal will likely do best focusing on the 15-minute chart or less. If you’d rather try shorting 1679.25 (without camouflage), an initial stop-loss of 1.00 point is advised.
