Although my short-term outlook for the E-Mini S&Ps is bearish, this vehicle’s hourly chart makes a good case for an upswing to end the week. Accordingly, I’ll recommend a ‘mechanical’ bid at p2=164.18 if that Hidden Pivot is exceeded for 2-3 bars by at least 60 cents. Reverse the position and go short at 165.72, stop 165.86. If you use put options to do this, I’d suggest buying the 165 strike with a Feb 19 expiration. Stop yourself out if the options trade for 30 cents less than you’ve paid for them.______ UPDATE: The opportunity died when the futures headed sharply lower from the get-go.
