We have rally targets in play in numerous vehicles, all of which are near potentially important tops. The previously identified E-Mini target at 3938.25 (see inset) gives it a little more running room than comparable targets in QQQ, IWM and NQ (although not DIA, which is nicely synced), but the pattern itself looks quite reliable. For trading purposes, we can try getting short in each without considering what the others are doing. Realize that the S&Ps are not necessarily going to top simultaneously with the Nasdaq 100 and the Russell. ______ UPDATE (Jan 27, 8:34 p.m. EST): The futures turned sharply lower, although bears will need to string together a few selloff’s like today’s to earn bragging rights. It’s a start, though.
ESH21 – March E-Mini S&Ps (Last:3742.50)