The pattern shown should take the guesswork out of Wednesday’s session, although you might have to be glued to your monitor at 4 a.m. to take advantage. That’s when the action shifts from European markets to the U.S., and lately it has been the only time of day when relatively ‘easy’ trade set-ups have materialized. Short the 2107.75 target with a stop-loss as tight as 2109.00 if you’ve been long for at least a part of the ride up. ______ UPDATE (3:48 p.m. EDT): What a shocker! Today’s by-now obligatory reversal occurred at 5 a.m. rather than at 4:00! Subscribers should not have been surprised when the sharp reversal — an 18-pointer worth as much as $900 per contract to those who got short — came from 2096.50 exactly (p2 on the chart I’d drawn).
