Amidst Thursday’s constipated tedium, the futures never quite got airborne. As is so often the case, they made a key high outside of regular hours, at 11:00 p.m. Wednesday night. After screwing the pooch for the next 14 hours, the March contract somewhat exceeded the overnight high, although not by much. This could hardly have inspired bulls; however it is not bulls who are doing most of the buying these days, but short-covering bears. Are they anxious enough to send the futures into a short-squeeze rally? My hunch is that they are not quite there, but that they are nervous enough to prevent stocks from falling by much as the week draws to a close. In any event, traders should approach this rabid weasel with a moderately bullish bias, given that the afternoon session produced the bullish AB impulse leg shown, along with the beginning of a potential CD leg that could hit 1894.50. That would be no big deal, but if it happens just before the final bell, or if the target is exceeded on a closing basis, the pressure would remain on bears when index futures resume trading Sunday evening._______ UPDATE (9:50 a.m.):  Rarely failing to leave us unsurprised, or to catch us totally awares each day, ES has rallied 26 points so far, to within three ticks of the 1894.50 target that I posted here last night. You could have made as much as $1300 per contract by being long.  Now, use your gains to provide a generous stop-loss on a short from near the highs.