For now, the pattern shown offers the most clarity of any I am able to find for purposes of getting the trend and target right. It implies that there is at least a little more upside, to the 2587.63 midpoint pivot, before the futures face jeopardy. If you are eager to get short, you can do so with a 2587.50 offer, stop 2588.25 Sunday night or Monday morning. I’d suggest the trade only in small size (i.e., a single contract), and only if you feel like you need to have some skin in the game. If the futures smash through the resistance, expect the rally to continue to the 2633.75 target. Along the way, levels x and p can both be used to set up ‘mechanical’ entries on the long side. _______ UPDATE (Nov 6, 4:38 p.m.): The flying pig stuck its snout marginally above the 2587.63 resistance noted above. Although that’s mildly bullish, a more decisive confirmation awaits. That will require a second-day close above the pivot or an intraday move to perhaps 2594.00 or higher. Although we shouldn’t doubt it will happen, let’s wait until it does before we start acting as though a run-up to 2633.75 is a done deal.
