I’d forecast a squall ahead if the futures took out a midpoint support at 1773.75, but they went no lower than 1275.75 overnight, once again denying bears a little respite. This vehicle used to be an easy trade using camouflage, but no longer. In fact, it’s become such a nasty, machine-traded little s.o.b. that even applying hindsight in places where we might have expected a price reversal, it’s extremely difficult to find a ‘camo’ entry opportunity (see inset). I’m not going to drop coverage of the E-Mini, but because it has yielded so very few decent trading opportunities lately, I’ll feature it less often.
