The futures were on a ‘mechanical’ sell signal to D=6925.25 when the week ended. It came in the final hour of the session, well after the trade was triggered ‘conventionally’ on the way down on Thursday afternoon. Price action continued a lengthening string of Fridays so boring that a trader fixated on his screen could fall into a trance. We may not know for a few weeks or longer whether this has been topping action or alternatively a consolidation for a run at higher prices. In any event, I wouldn’t suggest bottom-fishing at the target of the pattern shown, since it is compromised by a coincident low on Wednesday that is bound to attract a thousand clowns. ______ UPDATE (Jan 19, 12:40 a.m.): Sellers went bananas over more Trump tariff bullshit, sending the futures down to 6911.00 so far. That’s 2.0 points from the 6909.00 target I billboarded in the chat room last Tuesday as a back-up-the-truck number. It still is, provided you know how to set up a ‘camo’ trigger on the hourly chart. The tactic is explained in detail in the Hidden Pivot Course I’ve made available free to subscribers. _______ UPDATE (Jan 20, 10:10 a.m.): Sellers crushed the 6909.00 support, putting the futures on course for a rendezvous with 6819.75 or worse. In theory, 6869 has triggered a ‘mechanical’ buy and would be the second signaled at the green line of a bullish pattern that projects to 7163 (60-min, A=6596 on Nov 21). That pattern would be wrecked, however, and stopped out, with a print at 6771.00.
ESH26 – March E-Mini S&P (Last:6873)
Posted on January 18, 2026, 5:20 pm EST
Last Updated January 20, 2026, 10:45 am EST