I didn’t contemplate putting out a bullish trade in this vehicle when I sat down late Tuesday night to update touts for Wednesday, but there it was, hanging like ripe fruit from a low branch: a textbook ‘counterintuitive’ buy signal at the green line (3093.25), stop 3069.25. The trade is predicated on a rally to at least p=3117.00, and I am unable to find anything seriously wrong with the pattern itself. Even the position of the point ‘C’ low in relation to the cliffhanger ‘A’ is heavy on fear factor — the key ingredient of the CI set-up. Entry risk could be reduced a tad by converting this to an rABC trade where A= 3097.75 (11/22 at 10:30 a.m.), but please note that this gambit is already live as of 3:00 p.m.
ESZ19 – December E-Mini S&P (Last:3094.00)