ESM21 – June E-Mini S&PS (Last:4099.50)

The futures spent three days consolidating for a pre-Easter push toward the 4103.25 rally target first flagged here a week ago. It remains valid and should be achieved by no later than midweek. As always, an easy move past so compelling a Hidden Pivot resistance would imply that still-higher prices are coming. The futures have not pulled back enough to permit a ‘mechanical’ entry, but we should be alert to the opportunity as the new week begins. It would require a pullback from the pink line to the red, ideally within the space of a 24-hour period. _______ UPDATE (Apr 8, 8:25 p.m.): At press time, the futures were slithering to within inches of the 4103.25 target. You can short it using the tight rABC pattern shown in this chart. I would suggest ‘dropping anchor’ with a point ‘c’ high only when the futures have reached 4102.75 or higher.  The small a-b segment of this ‘reverse’ set-up will limit risk to a theoretical $150 or so per contract — about all the trade is worth, considering that we’ll be fading a tsunami of crazed buying.