With no serious sellers to oppose them, DaBoyz are making the usual hay on a Sunday night, effecting a so-far six-point levitation in this vehicle. The bigger picture is bullishly impulsive, based on last Thursday’s vicious, all-day-long short-squeeze. However, based on a gut hunch, I’m inclined to short into any strength today. Night owls may be able to find a way to do so directly on Sunday night if the rally peters out before morning. However, on the 15-minute chart, and most immediately, the best opportunities may come from the long side. As you can see (inset), there’s a series of external peaks that could provide an easy way to initiate a ‘buy’. Ideally, any profits you make trading with the bullish flow could be used to cushion the stop-loss for the first shorting opportunity. _______ UPDATE (11:41 a.m. EDT): The futures have exploded higher this morning, so I’ve posted the following in the chat room to stoke the bullish imagination: “The 180-minute chart (see inset) shows three bull patterns driving this hoax right now. In descending order of magnitude, their respective point A lows occurred on 4/18/13, 6/6 and 6/13. The first, and biggest, pattern projects to 1746.75. That is congruent with a DJIA 16800 target that has been well noted. The small, and current, frisson projects to 1660.50, and I’d make that my minimum upside projection for the near term now that the 1639.00 p midpoint has been exceeded by a decisive 2.00 points. However, the rally will be subject to presumably niggling interference at 1643.25, the D target of the pattern starting with June 6’s 1591.00 low.“
