Wednesday’s nasty chop did nothing to alter my confidence that the futures will reach the 2454.75 target shown, presumably by week’s end. That implies they remain a ‘mechanical’ buy at 2423.00, stop 2412.50, but you can convert the signal to ‘camouflage’ on a lesser chart to reduce the entry risk by as much as 90%. Ordinarily I would suggest shorting at the target only to those who have caught a profitable ride to it. In this case, however, 2454.75 looks so likely to generate precise stopping power that you can do the trade, opening a new position, with a stop-loss as tight as three ticks — i.e., at 2455.50. _______ UPDATE (Jun 15, 4:17 p.m. EDT): Despite Thursday’s gratuitous swoon, traders who followed my advice would have ended the day with a position showing a profit of about $400 per contract. The intraday low was 2416.25, so the stop I’d suggested at 2412.50 never triggered. Although there were reports in the chat room from two subscribers who got long, because neither evidently did so according to my instructions, I have not established a tracking position. Nevertheless, the target at 2454.75 remains valid as an upside price objective for any positions still held.
