The pattern shown should be starting to look familiar, even if not in the way of a dear old friend. Last week, I’d suggested a mechanical entry to get long for a ride to as high as D=2126.25. That Hidden Pivot is now within shooting distance, but we shouldn’t expect any easy opportunities to get long, since they were so hard to come by last week. However, if one were to arise, it would begin with a thrust to around 2104 followed by a pullback to p2=2094.50. A bid there with a 2062 stop-loss would apply, although I’m not recommending this strategy unless you understand why. There may be ways to significantly reduce the implied entry risk of $1600 per contract. If you’re interested, tune to the chat room in real time after the criteria I’ve noted have been met. ______UPDATE (November 23, 12:19 a.m. Brian Catalucci – Catman): The futures are still trying to close in on the long standing 2126.25 rally target. They’ve gone sideways for the last two trading days, bouncing off the 2094.25 p2 Hidden Pivot. We are nearing the Thanksgiving holiday and trading volume will lighten up. Using camouflage and tight stops to catch another ride up to the p2 pivot may be the order of the day.
