The futures tripped a buy signal Friday afternoon, but I doubt they’ll make it to the 4624.75 target. Two enticing trading opportunities could conceivably arise nonetheless: 1) a ‘mechanical’ long on a pullback to x=4530.50 once this number has been exceeded by at lest seven points’ or, 2) a short from 4562.00, stop 4563.25. The latter trade is strongly encouraged if you’ve been long for at least a portion of the implied rally. There is one other price point of interest — a support at 4480.25, the midpoint Hidden Pivot of the bearish pattern beginning with A-B. You could bottom-fish there with a stop-loss as tight as four ticks.
