ESM20 – June E-Mini S&Ps (Last:2762.00)

The futures still appear to be laser-locked on 2921.75, a Hidden Pivot target that I’ve drum-rolled here recently. I am strongly discouraging shorting there unless you’ve made at least a thousand bucks on the way up, so please don’t announce your intentions in the Trading Room.  I doubt we’ll be so fortunate as to see a pullback to p=2771.25, which would trigger an enticing mechanical buy, stop 2721.00. But there are bound to be other opportunities to get aboard, possibly with less risk. Those of you who remember how to do the old-style mechanical entries should look for an opportunity on a pullback to p2=2846.50. Recall that we need a few price bars above that level, with some white space beneath them, to set up the trade. Otherwise, any dip that exceeds a prior low on the lesser charts can be used to set up an rABC entry. _______ UPDATE (Apr 15, 9:33 p.m.) The thousand bucks (see above) was there for the taking for anyone who used the price trigger and stop-loss I posted in the Trading room about 45 minutes before the opening. This gambit went successfully against the day’s weighty downtrend and could have produced an actual gain of about $2300 in under 20 minutes. As far as I could tell, only one subscriber, the intrepid MikeS, jumped on it, so I did not establish a tracking position. Looking just ahead, the drum-rolled 2921.75 rally target noted above remains viable, but tonight’s weakness offers little encouragement for a bull trade. A dive to the green line (2696.00) would trip a ‘mechanical’ buy signal, but I’m much less enthused about using it than I was yesterday’s signal at the red line. Check the room for guidance in real time, since prospects could brighten after the opening.