DaBoyz were unable to hoist the futures to new record highs on Friday, but they sprinkled enough meat tenderizer on bears to be in good position to goad them into short-covering when the new week begins. I’ll suggest using the pattern shown, with a modest rally target at 2489.50, to guide you over the next day or two. An easy move past the midpoint Hidden Pivot at 2473.25, especially in the early going, would all but guarantee a quick move to the target. There is a ‘dueling’ downtrend in this chart as well, and so I’ll also suggest placing a bid for a single contract at 2450.50, a tick above the ‘d’ target, stop 2449.50. The order would be invalidated by a print exceeding 2473.00. You’ll be on your own if it fills.______ UPDATE (Aug 3, 12:09 a.m. EDT): Wednesday’s gratuitous swoon left me with no enthusiasm for trading this rabid wolverine today._______ UPDATE (Aug 3, 7:07 p.m.): Zzzzzzzzzz.
