NQZ20 – Dec E-Mini Nasdaq (Last:12389)

Last week’s 12540 high came within 10 points, or 0.08%, of a minor Hidden Pivot target at 12550 target. However, the pullback from that number was shallow, and the futures looked like they were raring to go when time ran out. If they are up and at ’em on Sunday night and trading above the target — as why should they not? — I’d suggest using the 12804 target of a larger pattern that has been theoretically in play for more than two months. The pattern is sufficiently clear that we should expect a pullback from very close to it. However, it looks too obvious to be worth much for trading purposes. A tw0-day close above 12804 would put 12969 in play (daily, A= 10,942 on 11/2).  Using the smaller pattern, you could get long ‘mechanically ‘ on a swoon to 11869, stop 11502. _______ UPDATE (Dec 8, 5:25 p.m. EST): The futures spent two days consolidating above a middling Hidden Pivot resistance at 12,550, implying there’s buying power enough to take them higher. _______ UPDATE (Dec 9, 8:11 p.m.): If the futures touch the red line, that would trigger a ‘mechanical’ buy with a stop-loss at 11,992.  I suggest this trade only if you are able to forge a ‘camouflage’ entry trigger that reduces theoretical initial risk to no more than $300 per contract. Please note that the straight-up entry as given above would carry entry risk of $4,880 per contract. _______ UPDATE (Dec 10, 6:10 p.m.):  A ‘mechanical’ bid placed where I’d advised would have caught the low of a rally worth as much as $4400 intraday. Only one subscriber expressed an interest in the trade or a variant of it, so I have not established a tracking position.