The futures were in a promising rally Monday night — so promising, in fact, that we can put aside for now the 1257.70 correction target I’d identified earlier. The impulsive a-b rally has surpassed no fewer than five prior peaks (see inset), but if it pulls back now without having gone much higher than the so far top at 1284.60, the next leg up could conceivably set up a ‘camouflage’ buying opportunity. My advice, referencing the 60-minute chart, would be to either let the first entry signal pass before you jump aboard; or to use a ‘timed buy-stop’ to initiate, whether via camouflage or not.
