I’ve aired short-term rally targets as high as 21.730 recently, but the pattern shown, just to be cautious, shows another at 21.400 that could be reached as early as Monday or Tuesday. We’ll slide the point ‘A’ low down to 17.585 (6/28) if we need to, and that would generate a 22.920 target. For now, though, let’s use the pattern shown and its Hidden Pivot levels (p and p2) to board ‘mechanically’ or via camouflage as opportunities arise. Although the futures stalled very near the 20.340 midpoint on Friday, they would need to pull back from it sharply on Monday to confirm the pattern. If and when that happens, the value of p, p2 and D for trading purposes will be significantly enhanced because we’ll be able to assume they’ll work precisely.
