Today’s chart is of a sort that I typically characterize as ‘high-confidence,’ implying that I view the futures as very likely to reach the ‘D’ target at 2936.25, and to produce a tradeable pullback when they get there. The chart also suggests that a ‘mechanical’ bid at the green line would provide an excellent shot at a $2700 profit per contract. I can’t guarantee the futures will pull back that much, though, and judging from the steep pitch of Thursday’s rally, I doubt that they will. We haven’t initiated any mechanical trades at the red line recently, but I’d suggest using it to set up a ‘camouflage’ trigger if you use it at all. Technically speaking, the ‘mechanical’ entry there has already triggered, stop 2888.75. ________ UPDATE (Sep 16, 5;07 p.m.): The futures tripped a ‘mechanical’ buy signal on a pullback to the red line (p=2900.63) in the manner sketched out above. Many subscribers have indicated they’re interested in trading this vehicle, but there was no mention in the chat room of anyone having done so. However, if I hear from at least two subscribers who hold positions based on my instruction, I will establish a tracking position. In theory, a partial profit should be taken at at 2918.00, halfway to the target, with the rest held for a shot at D=2936.25. Here’s a fresh chart.
