ESU23 – Sep E-Mini S&Ps (Last:4482.50)

The stock market remains in the grip of mass psychosis, leveraged by con-men who know how to exploit investors’ stupidity and greed. Look at how DaBoyz handled a tough Hidden Pivot resistance at 4471.00 last week that had been nearly nine months in coming. Ordinarily we might have expected a correction of perhaps 5-7 weeks to give the futures enough time to recharge for a push to new record highs. Instead, the mindless herd chomped through the resistance on first encounter two weeks ago, then returned on Friday to devour what was left. The implication is that the 4819 target shown in this composite weekly chart is in play and can be used by traders as a minimum upside projection. Meanwhile, a voodoo number at 4562 is the first place we might expect a significant, tradeable reversal.