The big, lovely pattern shown (see inset) should serve our purposes for trading and analysis as the new week begins. That means we could have bought p=3847.13 on Friday and made a few bucks. As a practical matter, however, I rarely advise initiating a position at the closing bell. We have no way of knowing with confidence whether the midpoint support will be breached. Indeed, for all we can tell, the so-far modest rally from this Hidden Pivot could mark an important low for this correction of the bear market rally begun in October. However, we do know that if the futures relapse and smash p=3847, that would set them on a path down to at least p2=3667.19, or perhaps even to D=3487.25. Both can be bottom-fished, but the larger opportunity would lie in getting short on the way down. Pivoteers will notice that I’ve used the middle peak of three to fix a point ‘A’ high. I refer to such middle-of-the-road coordinates as Pontiac/Oldsmobile peaks to drive home the point that they don’t usually work. In this case, though, my choice is justified by the bounce precisely from p, which tends to corroborate the pattern itself. It will be trustworthy in any case (i.e., good enough for government work) with regard to the ‘read’ a decisive breach of p would give us on trend strength. Here’s a smaller chart of a pattern that I posted Friday afternoon. I said it would control DaBoyz’ manipulations, as it indeed did. Notice that it signaled two profitable ‘mechanical’ buys during the afternoon. The 3893.50 ‘D’ rally target is still viable, pending whatever stupid tricks the Sunday night sleazeballs can gin up. ______ UPDATE (Mar 14, 6:12 p.m.): DaBoyz don’t know they are being ruled by this pattern in the June contract right now, so you can trust it to work no matter what your purpose: shorting at p, buying at x ‘mechanically’, shorting at D — you name it. _______ UPDATE (Mar 15, 9:26 a.m.): The futures are too anemic at the moment to set up any of the possibilities mentioned above, although they did trigger the one type of trade we almost never use any longer, a conventional buy at ‘x’. If further selling negates the pattern by taking out C=3840, that would suggest the S&Ps are even sicker than they appear. _______ UPDATE (Mar 15, 11:17 p.m.): Here’s the kind of gnarliness that can’t miss. Price action at p=3930.88 implies that D=3996.75 is likely be reached (basis the June contract), and that a pullback from the target would be shortable. Your bias until then should be bullish, and a swoon to x=3897.94 would generate an enticing ‘mechanical’ buy. _____ UPDATE (Mar 16, 10:14 a.m.): The futures did in fact swoon this morning to the green line, overshooting it by just three points before launching into a 25-point rally that could have been worth as much as $5000 on four contracts. I suggested covering half in the chat room with ES at around 3920, and it has since relapsed to 3900 so far. Here’s the chart, moments before the selloff. _______ UPDATE (11:14 p.m.): The June contract topped two ticks shy of the 3996.75 target I’d suggested shorting in a 12:03 post in the Trading Room. The 25-point pullback that ensued over the next 90 minutes could have been worth as much as $1,250 per contract. Numerous subscribers appeared to have jumped on the trade, inspired by Spartacus’ note that he had shorted the crap out of the target. Here’s the ABCD pattern — one of those gnarly beauties that still work nearly every time. The trade was suggested in particular for subscribers who had caught a 100-point (!) ride north using a textbook ‘mechanical’ buy that had been signaled hours earlier (also noted in the chart).