ESZ13 – December E-Mini S&P (Last:1678.25)

There is unfinished business in the pattern shown (see inset). Although I’d said a selloff to at least 1662.50 looked like a done deal, the futures in fact went no lower yesterday than 1666.75.  Moreover, the subsequent rally to 1681.00 would become very bullish if it goes just a bit higher, exceeding 1687.00 today without pausing for breath. That would be bullishly impulsive on the intraday charts, and bears had better step aside if it happens.

However, since the rally has yet to decisively exceed the red line, the so-far flirtation with this Hidden Pivot midpoint should be regarded as an opportunity to get short via camouflage in advance of a relapse to 1662.50.  My suggestion is to find your entry spot on charts of 5-minute degree or less while at the same time remaining open-minded to the possibility that the next tradable, minor move will be higher rather than lower.