Sellers have struggled for the last week to push the futures lower, suggesting bulls are gearing to turn things around. If so, we should see a push today or tomorrow to the green line at 1120.40, where a theoretical ‘buy’ signal would be tripped. After that, the sooner the rally pushes past the midpoint pivot at 1143.00, the more bullish the implication. A ‘mechanical’ buy after p has been decisively exceeded may be possible, so stay tuned to the chat room if you’re interested. More immediately, night owls could look for ‘camouflage’ entry opportunities on the five-minute chart or less.
