I’ve reproduced two months’ worth of price action so that can see the wide-open space that will greet buyers if they should try to push this vehicle significantly higher. Technically speaking, only a move to at least 1960.25 looks like a safe call. However, if this Hidden Pivot resistance gives way easily — meaning within an hour or two of when it is first touched — that would be strong evidence that still-higher prices impend. Judge for yourself how much supply looms between these levels and record highs a little more than a hundred points above. Most immediately, traders can use a pullback to 1941.88 to get long mechanically, stop 1935.75. If you get to 1960.25, save a contract or two for a swing at the fences. _______ UPDATE (February 28, 7:18 p.m. ET): A ‘counterintuitive’ buy at 1933.25, stop 1920.00, is the most appealing prospect at the moment — presumably for Sunday night-owls. You could cut the $650 theoretical initial risk by as much as 95% by using the camouflage’ technique. _______ UPDATE (February 29, 8:48 a.m.): Take profits on half near p=1946.25 if you bought multilots at 1933.25 as I’d suggested last night. Single-contract positions can use an ‘impulsive’ stop from the 5-minute chart. At the moment, that means bailing out on a swoon touching 1937.25. Most immediate objective: D=1951.00, provided p2=1948 (5-min, A=1931.50) is breached to the upside. If and when the futures get there, take a partial profit on an additional 25% of the original position.
