ESZ13 – December E-Mini S&P (Last:1684.75)

The futures continue to move very precisely in both directions relative to Hidden Pivot supports and resistances (see inset). That implies the correction begun from last Thursday’s high will reverse from very near the 1673.25 midpoint shown, and that the subsequent rally will carry to a potentially important top at exactly 1769.50 (previously given as 1767.00). Most immediately, however, scalpers can try bottom-fishing via at exactly 1681.00, or if any lower at 1669.00. These are Hidden Pivot correction targets from the hourly chart, and although I expect each to be tradable with a very tight stop-loss, either has the potential to produce a major bottom that would effectively pre-empt one at the 1673.25 ‘redline’ shown in the chart. _______ UPDATE (September 27, noon EDT): The futures have taken a so-far six-point, impulsive bounce off a 1680.00 low.  If you used my correction target to get long, please let me know in the chat room and I’ll establish a tracking position for your further guidance.