ESZ18 – DEC E-Mini S&P (Last:2725.75)

The 2706.50 target I put out Sunday night came within two ticks of nailing Monday’s high, which gave way to a 104-point avalanche. In the chat room, I suggested covering half the position for a small profit before the move started to snowball, but at least a few subscribers took my further suggestion that they hold a contract or two for a swing at the fences.  This tactic didn’t pay off until late in the day, when it finally dawned on bulls that the broad averages were not coming back.  The 2610.00 downside target I subsequently proffered near the end of the day gave way easily, suggesting the even though the futures subsequently bounced a whopping 43 points from an intraday low of 2603.00, they are likely to fall anew to the 2587.75 target shown before sellers are spent. I would reconsider this prediction if the December contract pushes above 2683.50 overnight or Tuesday morning. ______ UPDATE (Oct 31, 10:47): See my chat room posts for new rally targets that were disseminated in timely fashion earlier this morning.