Friday’s gratuitous Yellenspasms slightly altered the bullish pattern we’ve been using, lowering the target by about 8 points to 2203.00 (see inset). The futures touched the green line late in the session, tripping a theoretical buy signal, but I’d suggest waiting for a more appealing opportunity to get long. That could come in the form of a ‘mechanical’ bid on a pullback to at x, p or p2, provided you know what you’re doing. If not, you can always monitor chat room discussion about this, since there will usually be a half-dozen or more traders in there who are adept at this type of entry.
