ESH14 – March E-Mini S&P (Last:1740.00)

DaBoyz are exploiting short-covering hysteria for all it’s worth Monday night, goosing the futures 7 points so far. This was to be expected, but no one should be fooled into thinking bulls are going to come roaring back after taking such a powerful body blow. Even so, they’ll have a chance to initiate a vicious counterattack from the 1724.25 target shown. You can bottom-fish there for a single contract, using as tight a stop-loss as you can abide; however, if there’s a solid opportunity to get long via camouflage, four contracts would be okay.  Please note that if the target, a Hidden Pivot support, gets demolished the futures could fall to as low as 1705.50 (a hidden support that also could be bottom-fished. It is derived by using the lowermost B-C pairing available: 1761.25 and 1788.25, respectively.)