ESM20 – June E-Mini S&Ps (Last:2242.50)

A week’s worth of extreme chop has not altered the 2204.50 minimum downside target proffered here last Sunday. It can be used a minimum downside objective for now, but also as a place to attempt to get long with as tight a stop-loss as you can abide.  Friday’s recommendation to get short was posted in the chat room at 5:34 a.m., when most U.S. subscribers to Rick’s Picks were asleep. It could have produced a profit of as much as $10,000 per contract, since the June contract fell 200 points after the trade triggered. The actual price at which the trade was to have been initiated differed by just a few points from the 2464.81 trigger given, since the high of the day occurred slightly above where it was when I published my guidance. The set-up followed tactics we have been using routinely during Wednesday tutorial sessions, but I’ll leave it to you to figure out why I suggested taking the plunge when I did. ______ UPDATE (Mar 23, 6:10 p.m.): Sellers exceeded the 2204.00 target by enough to suggest that more slippage looms. If so, look for the futures to hit 1956.25, the D target of this pattern.  The Dow will be trading under 16,000 if that happens. Bulls could get a repreive if whatever short-squeeze is planned for Tuesday exceeds the 2386.00 peak shown in the chart.