Wednesday’s moderate selloff was bearishly impulsive on the hourly chart, but it didn’t negate the 1703.75 rally target shown in the chart. Night owls should look for a bottom-fishing opportunity at the ‘p’ midpoint support of the small corrective a-b-c at the right-hand edge of the chart. Camouflageurs looking to buy-stop their way aboard will need to zoom down to the 3-minute chart or lower to find the ‘external’ peaks needed to do this with ease.
