ESM19 – June E-Mini S&P (Last:2736.50)

Friday’s plunge came within six points of fulfilling the 2744.25 target we’ve been using to keep us confidently on the right side of the trend. This Hidden Pivot support seems all but certain to be achieved Sunday night or Monday morning, but the selloff could conceivably continue down to as low as 2732.50 if  the support doesn’t hold.  At that level the futures would be in good position to set up a ‘counterintuitive;’ buy signal. I’d suggest tuning to the chat room at that time if you trade this vehicle. The extent of the bounce is unpredictable at the moment, but it would need to exceed 2842.00 before we start taking the rally seriously. _______ UPDATE (Jun 3, 12:30 p.m.): The futures have bounced eight points tonight from 2732.25, a single tick beneath the target given above. This is well short of the 2791.00 print needed to trigger a ‘CI’ trade, but if you simply bottom-fished with a tight stop-loss, you should have taken half the position off for a partial profit. In any case, you’re on your own. _______UPDATE (Jun 3, 6:27 p.m.): Six hours of gratuitous swings lowered the CI trigger to 2787.50 but otherwise changed nothing.