DaBoyz sprang a bear trap on Friday just beneath the Hidden Pivot low I’d projected. Notice that the resulting abcd rally topped at its D target exactly. Pivoteers may notice as well that the A-B leg is not quite up to our old standard; however, changing times call for changing methods. That will be a key concern of the upcoming webinar on August 21. If you’ve taken the course, you should make a point of reviewing the new material, which I will make available without charge to all grads after the class.
Regarding the E-Mini, my hunch is that the bear rally begun from last week’s lows has further to go — possibly to the 0.618 Fibonacci level at 1949.25 mentioned in this week’s commentary. We’ll want to try shorting there with a tight stop, but you should give preference to any clear HP resistance that may come to light in the days ahead. Strictly speaking, however, a b-c pullback following an impulse leg through the labeled peaks (#1 and #2) would be a short-term buy, possibly do-able via camouflage if the breakout above #2 is subtle enough (and especially so if #3 is not exceeded as well)