This little troublemaker spent yesterday mixing bobble-head jitters with Wall Street Kabuki, all mere inches shy of new record highs. Such behavior would only have compounded the consternation and frustration of traders who have been desperately looking for opportunity — any opportunity — to grab hold of.  Traders who see themselves getting short at the stop can save their breath, however, since success could conceivably require the canny speculator to endure, for example, the most murderous Friday-afternoon short-squeeze ever, only to see stocks around the world take their initial plunge into well-deserved hell Sunday night.

Since it’s only Tuesday, however, I’m perforce obliged to offer a game plan that aspires to engage and occupy the restless among you until the beast comes to rest ahead of its Moloch sabbath. I’ll therefore suggest hitching your wagon to the gnarly bullish pattern shown. It promises a rally to 1930.75, provided buyers turn giddy over some otherwise meaningless tidbit of news churned out by the Ministry of Spin. Not to say it can’t happen, but nothing in the chart suggests to me that this trading vehicle is fixing to dive. That will come later in the week if at all. For now, though, and as always, it will be caveat emptor.  _______ UPDATE (9:04 a.m. ET): This vehicle ‘overcorrected’ overnight, exceeding the 1918.00 ‘D’ target (60-min) of a=1923.50 (5:15 p.m.)  Now it is potentially shortable via the developing pattern a=1920.50 (7:00 a.m.); b= 1916.00 (9 a.m.); c=still undetermined.  Should it pan out with an entry signal, the short will be somewhat less enticing if it occurs within 10 minutes of the opening bell. Click here for a free two-week trial to Rick’s Picks — no credit card necessary.