DaBoyz rallied the futures in the second half of yesterday’s session, but I don’t expect it to go much further. The downdraft overshot a ‘D’ target for one; and for two, it generated a bearish impulse leg on the hourly chart (see inset). The most logical place for a head-fake to fail Tuesday morning would be at the 1855.75 midpoint pivot of the downtrending pattern. Accordingly, I’ll recommend shorting near there via camouflage if an enticing opportunity unfolds. This implies the appearance of a bearish abc pattern on a chart of perhaps 3-minute degree or less. _______ UPDATE (10:27 a.m. EDT): The rally has shot past midpoint resistance but so far failed to surpass any external peaks on the hourly chart. That would take a print at 1866.25, but we’ll wait until it happens before we infer strength. As has become all too typical for this vehicle, there have been virtually no ‘camouflage’ handholds for getting long OR short, only gratuitous spasms in both directions since the opening bell.
