The March contract was looking relatively placid Sunday night — until about 30 seconds ago, that is, when the steeply diving price bar shown materialized on the chart. Minutes later, the futures have already recouped half of this nasty shakedown, but my hunch is that it’s not over, since the so-far low at 1754.00 exceeded D=1757.00 (the green line) by three points. If this proves to be the case, look for more slippage to 1744.00, the target calculated by sliding ‘A’ up to 1798.25. _______ UPDATE (10:57 a.m. EST): 1754.00 was in fact the low — quite a low, actually, since DaBoyz were subsequently able to jack this hoax all the way up to 1786 before they ran out of bears to brutalize. The last piece of the rally (15m, A=1777.00 at 9:45; B=1786.25, C=?) was bullishly impulsive, so there would appear to be a second-wind surge in the offing. If so, it could be tradable via camouflage.)
