Each of the last two rallies over the last week has been energetically impulsive, implying that bulls are likely to take another leap either Friday or Monday. The least risky way for buyers to board would be by way of the small ABC pattern that formed near the top of Thursday’s flagpole. However, I expect the futures to go at least somewhat lower before they launch anew, and so I’ll suggest using the larger pattern to get long. A ‘counterintuitive’ set-up similar to the one I’ve sketched would be most enticing, but be aware that an entry trigger late in the day would carry additional risk. If the futures move higher without pulling back below 1236.00, you’ll be on your own fashioning an entry trigger, but I’d suggest zooming down to at least the 3-minute chart for good ‘camouflage’.
