Squirrelly as ever, the futures gave up all of Monday’s substantial gains in the final hour. The selloff was stalled at a 2030.25 ‘secondary pivot’ in after-hours trading, but if and when it gives way, the June contract should be presumed headed to 2021.50, a Hidden Pivot support that can be bottom-fished with a stop-loss as tight as four ticks. A ‘mechanical’ short from 2030.25 could also be attempted, provided the set-up meets our criteria for this type of trade. If 2021.50 gives way easily and the selling starts to snowball, however, look for more downside to 2011.00. That target is derived by sliding ‘A’ up to April 4’s 2071.50 peak. _______ UPDATE (April 12, 11:36 a.m. ET): The secondary pivot did NOT give way; instead, it provided support for DaBoyz to pop off a so-far 20-point short squeeze.
