Buyers blew past the 1341 midpoint pivot of the pattern shown so easily that a follow-through to its 1411.60 ‘D’ sibling appears all but guaranteed. The rally played out in less than ten minutes, leaving bulls and bears to duke out for, so far, the next eight hours. Traders have the prospect of a nearly $50 ride, but I’m not going to pretend it’ll be easy to get aboard, even for expert camouflageurs. I would expect the next leap to occur only after a bamboozling series of feints higher and lower, the latter blowing any workable scheme of risk management to smithereens.
