So eager was I to squeeze off a short at 2138.75 on Friday that I was all but certain Mr. Market would leave us at hanging, nervous owners of a position that would have to be carried into a three-day weekend. For better or worse, the futures never quite made it to the target. Will we have a chance to do next week what we had planned to do? The chart shown leaves me thinking that the answer is yes — that the short distance between Friday’s settlement price and our target (corrected by one tick) will be covered without trouble. Even so, it can’t hurt to monitor the futures closely for signs of an abc downtrend from somewhere beneath the target.
