ESU20 – Sep E-Mini S&P (Last:3317.75)

The 3357.00 rally target identified here earlier remains valid as a minimum upside objective for the next day or two, a lodestar for a trip to the 3392.75 target of a larger pattern that was also noted here. The only surprise is that the futures spent all day and most of the previous night flouncing around within an excruciating, 10-point range, the better to fray the nerves of bulls and bears alike who may have been overprepared for ‘something’ happen. Because pullbacks this week have been timid, there have been no opportunities to get aboard using a ‘mechanical’ set-up, a tactic designed especially for taming and exploiting violent swings.