The feisty, 50-point bounce off Tuesday’s fear-stricken lows allowed subscribers who followed the simple ‘counterintuitive’ buying strategy sent out Tuesday evening to book profits of as much as $4200 Wednesday morning on a four-contract position. The futures ended the day above the 3103.00 midpoint Hidden Pivot, implying they are likely to reach the ‘reverse ABC’ pattern’s 3136.25 target at least. If this Hidden Pivot resistance is easily breached, or if the December contract close above it, that would portend a test of the all-time high recorded last week at 3158.00 and, presumably, a decisive move past it.
ESZ19 – December E-Mini S&P (Last:3110.75)