The chart is nearly identical to the one accompanying this week’s commentary, but I’ll add a proprietary detail that will allow you to plot the next three moves rather than just two. I already mentioned that the selloff of the last three weeks could reverse from a ‘voodoo’ number at 5641.50. However, if the bounce comes from 5555.00 as is more likely, it would be a good bet to terminate at either 5733.25, or if any higher, at 5912.00. By all means, jot those numbers down, since they offer a possible way to get a tight, tradable handle on price action over the next 3-4 weeks. ______ UPDATE Mar 12): A so-far feeble bounce has come from 5534.00, 0.3% below the 5555 target given above. However, it would need to punch through Hidden Pivot resistance at 5712.75 to be judged significant. The equivalent resistance for the June contract is 5765.25, and its decisive breach could open a path to as high as 5945.50 — a bear rally worthy of the name.
ESH25 – March E-Mini S&Ps (Last:5651.00)
