Yesterday’s thrust through the 1966.25 midpoint resistance shown (red line) implies the uptrend will continue over the next day or two to at least 1987.25. The rally is too far along for us to jump aboard easily for an implied 15-point ride, but if you’re a night owl looking for action, try zooming down to the 15-minute chart in search of camouflage opportunities. If they exist, they’ll be found in the form of small peaks along the path of the decline that occurred on July 6-7. If you’d rather short into the rally, an initial stop-loss of 1.00 point, at 1988.25, is suggested. _________ UPDATE (July 16, 12:03 a.m. EDT): Zzzzzzzzzz. No change. _______ UPDATE (6:18 p.m.): What an awful mess yesterday was! Besides the 1987.25 target we’re shooting for, there’s a lesser Hidden Pivot resistance at 1982.00 that comes from these coordinates on thee hourly chart: A=1953.00 on July 11 at 10 a.m.; B=1976.25 on July 15. This was identified by a chat-roomer yesterday, and it looks good enough to foster a tradable pullback for day-traders. _______ UPDATE (July 18, 3:05 a.m.): The futures plummeted yesterday from a bull-trap high at 1976.00 that got nowhere near our 1982.00 pivot. Now, use A=1970.50 (60-minute, July 14 at 2:00 p.m.) to project lower lows.
