Yesterday’s vicious chop left the futures presumably bound for the 1386.40 rally target shown. Catching the move will be tricky at best, but my gut feeling is that the opportunity will expire with the night session. As of around 9 p.m. EDT, the rally had generated a strong impulse leg on the hourly chart, and it may be possible to use an ABC pattern on this chart to get aboard. If so, I’d suggest a timed buy-stop entry in the manner I have described here previously. Less risky but more difficult would be to ‘camo’ your way in using a chart of lesser degree – perhaps the 3-minute bars or less.
