NQU20 – Sep E-Mini Nasdaq (Last:10087)

Early June’s powerful impulse leg suggests that a pullback to p=9854.7 would offer a compelling ‘mechanical’ buying opportunity. The stop-loss would be at 9692.50. I am wary of putting this trade out on a Sunday night, however, since you never know how ugly things could get in the netherworld of off-hours trading. On balance, I’ll suggest paper trading this one, even if I am rating it a juicy ‘7.6’.  Pivoteers  proficient with ‘camouflage’ set-ups can attempt it with real money nonetheless, provided you can find a set-up on the one- or five-minute chart that limits initial theoretical risk to perhaps $125 per contract. A 10,571 rally target given here earlier remains viable, as does the lesser one at 10341 shown in the chart. ______ UPDATE (Jun 22, 8:42 p.m.): The trade triggered around 7:00 p.m. and is showing a profit at the moment of around $25,000 on four contracts. No one even mentioned NQ in the chat room, so I am not establishing a tracking position. The generous (but mechanically necessary) 9692.50 stop-loss proved unnecessary, since the futures never dipped more than slightly below the 9854.75 entry price. D=10341 is still the minimum upside projection. _______ UPDATE (Jun 23, 9:05 p.m.): Today’s psychotic lunge came within 0.4% of the 10341 target — close enough to consider it fulfilled. Even so, if short-covering bears get second wind and push the futures to our number, you can still short there with a very tight stop-loss. You can also use QQQ to interpolate if you don’t do futures. _______ UPDATE (Jun 24, 8:04 p.m.):  Sellers looked like they had unfinished business at the close, implying the futures could fall all the way to the 9840.50 target shown in this chart if the weakness snowballs. ______UPDATE (Jun 25, 6:22 p.m.): This morning’s bullish reversal e bounce came off p2 of the pattern originally shown, sending the futures into a lunatic spasm that stalled a micron below at p=10,112. Assuming buyers pops through it, look for more upside to at least p2=10225.06.