The slight push past the midpoint resistance at 158^13 is probably sufficient for us to infer that the futures will achieve p2=160^00 over the near term, or perhaps 161^00 if any higher. Pivoteers should notice the nice ‘counterintuitive’ buy signal down at 157^31. This type of pattern has been the focus of Wednesday tutorial sessions in recent weeks. ______ UPDATE (11:17 a.m. EDT): Today’s bullish blast topped at 160^03, three ticks above the target I sent out last night. One more to go in this minor rally cycle: 161^00. _______ UPDATE (August 22, 4:15 p.m.): Friday’s thrust brought the futures to within five ticks of the 161^00 rally target flagged above. My hunch is that bulls are about to bust through it, in which case my new target would be 162^13.
