ESM16 – June E-Mini S&P (Last:2062.50)

Which way will the cockroachMonday’s short-squeeze rally would turn menacing with a print at 2093.75, a tick above the peak labeled in the chart. That would be equivalent to a 250-point Dow rally, which is well within the realm of possibility for a stock market that should probably be trading 10,000 points lower. The bearish Hidden Pivot target at 2016.75 will remain theoretically viable until such time as the point ‘C’ high at 2079.75 is surpassed, but you should have a damned good technical reason for getting short if you plan to leverage the pivot. There’s no point in my going out on a limb here with an overnight trading ‘tout’, since it would be like trying to predict which way a cockroach will scuddle when the lights are turned on.