This started out as a boring session on a boring day, but the material toward the end makes it one of the most important recordings I have ever posted. You may have noticed that patterns that have looked very tradable have been failing with greater frequency, especially in the E-Mini S&P. This is presumably because algorithmic traders have begun to catch on to the usefulness of what you and I call ‘internal’ and ‘external’ peaks (and lows). The effect has been to reduce the value of these peaks and lows for our purposes, especially camouflage trading. What can we do about it? Check out the last half of this recording for the answer. Essentially, it will entail looking for even subtler opportunities than the algos may have thought about.