The ‘Naz’ is holding up slightly better than the S&Ps, but the E-Mini NQ would need to vault the two labeled peaks to turn the hourly chart bullish again. If bulls can’t summon the energy today to accomplish this, look for the futures to continue their fall to at least 4010.75, the Hidden Pivot target shown. If this happens straightforwardly (i.e., without too much chop), plan on bottom-fishing at the target with a stop-loss as tight as three ticks. Night owls can also look for an abcd set-up to get short for the implied ride south. _____ UPDATE: Our bottom-fishing plan was a non-starter, since the futures went no lower than 4033.00 before a short-squeeze took them sharply higher (most immediately, toward a Hidden Pivot resistance at 4108.50). ______ UPDATE (September 29, 1:46 a.m.): Price action turned nasty last week. This vehicle remains tradable nonetheless, but I’d prefer to watch from the sidelines for now. Most immediately, I’ll be interested to see how well bulls use the pattern shown to advance. If you’re trading this vehicle, please query me in the chat room when we have more information at our disposal.
