ESM20 – June E-Mini S&Ps (Last:2808.00)

The futures sputtered out without achieving even the least ambitious of my bullish benchmarks. The targets remain valid in theory, but today’s chart is intended to stretch the bearish imagination by emphasizing not Hidden Pivot levels, but a vast chasm below that taunts investors who may have whooped it up a little too heedlessly lately.  En route to the chasm, there are four technically significant lows stretching back to April 21’s 2717.25, the most important of them. The others lie, respectively, at  2823.00 (5/6); 2771.00 (5/3); and 2755.25 (4/24). Every one of them is guaranteed to evince a flutter, bounce or breakdown, and so each will likely be be tradeable in some fashion.  If you’re eager to test your chops and perhaps make a little money, or to see the Hidden Pivot System at work in real time, stay tuned to the chat room for guidance from the many experts (aka, ‘Pivoteers’) who frequent the room. Some subscribers will already be short and quite profitable, having acted on a very timely suggestion provided in the Trading Room by ‘GDL’, who outlined the details of his bearish bet the night before. _______ UPDATE (May 13, 10:02 p.m. EDT): The first ‘structural’ support in the sequence given above, 2823.00, propagated a 50-point rally. Now please note that the futures are closing on 2771.00, the second number in the sequence. The reason I used the word ‘guaranteed’ above is that the machines that do most of the trading are programmed to think like human traders, pondering with autistic obsession the dynamic effects of prior highs and lows.