The futures are working on a 1362.30 rally target at the moment (see inset), and I do mean working. Bulls blew a chance to catch an express to that number yesterday when the most dramatic upthrust of the day, such as it was, failed by three ticks to surpass a key ‘external’ peak to the left of it. That was discouraging, but it would be easily remedied today with a relatively modest push. Once above peaks going back to March 3’s 1355.00, this vehicle will probably be quite difficult to catch. But notice that there are several peaks just below it that you could use, camo-style, to leverage a long entry. A ‘b-c’ pullback beginning from anywhere in-between two of those peaks would be your boarding ticket. Another possibility would be for a tradable pattern to develop on a pullback to the 1342.40 midpoint pivot shown.
