From a trader’s perspective, the E-Mini has served up a growing pile of slop since the day after New Year’s, when the futures topped a single tick from a very important Hidden Pivot target that had been posted in the chat room. The pile grew still larger with yesterday’s emetic price action, and there is little point in trying to predict when the next exciting move will occur. My targets for the broad averages are quite a bit higher, but we should not dismiss the alternative possibility that the 1846.50 high achieved on the final trading day of the year will stand for at least a few weeks if not longer.
