The bull pattern shown is one I only just discovered — of necessity, since the trendline we’d been counting on to impede the rally at 2119.25 has proven to be a relative pushover. This pattern, with a target at 2141.25, shows a decisive midpoint penetration on Monday that all but ensures more upside over the near-term to at least p2=2129.75. The pattern was also a ‘mechanical’ buy on the pullback early in the session to p=2118.20 (stop 2114.20). Night owls could short 2129.75 with a stop-loss as tight as three ticks, but keep in mind that anything above the stop would likely put the futures on track for 2141.25. That last number can be shorted aggressively if you’ve been long on the way up.
