Since triggering a profitable ‘mechanical’ trade Sunday night, the futures have been unable to extend the rally even to the secondary Hidden Pivot at 2687, much less the pattern’s D target at 2781. Panic selling and buying have ebbed, leaving the playing field to traders who have found interesting ways to pass the time until the pandemic story mutates in some significant way, for better or worse. Swings of 50-100 points have become routine, and the only worrisome thing about this is that worry has been replaced by, if not complacency, then a tense kind of boredom. For our purposes, although the D target remains theoretically viable, trades in either direction are best orchestrated on the lesser charts where swings of perhaps 10-15 points occur all day long.
