ESZ22 – Dec E-Mini S&Ps (Last:3993,75)

How very coy for the futures to have ended the week a single tick below 4000, a number so psychologically fraught that it winds up being meaningless. More significant is the fact that the rally exceeded the D=3990.75 Hidden Pivot target of the pattern shown. This is bullish and implies the futures will continue to move higher in the week ahead. If you trade this vehicle, check out my posts in the chat room on Thursday and Friday for more specific guidance. ________ UPDATE (Nov 15, 10:30 p.m.): The chart suggests the 4041 target flagged in the chat room hit a near-bullseye. However, the 9-point overshoot was anything but, given the gnarly perfection of the pattern; it should have been an exact hit, give or take a few ticks. The implication is that the target was front-run, the uptrend will take another leg up, or both.