Our week ended with a focus on the bearish, 6328.50 target shown. For reasons that I explained in the chat room, I do not expect this Hidden Pivot support to launch the kind of short squeeze that would put the fear of the lord in the multitudes who by now must be short up to their eyeballs. However, the pattern is sufficiently clear and compelling, even if somewhat obvious, to deliver a tradeable turn with reasonable precision. As of Friday’s close, possible trigger intervals for getting long ranged from 13.00 to 66.25 points, with a middling, third set-up requiring a 28.00 point reversal. I’ll recommend using the 13.00-er, but only with a ‘C’ low planted in the range 6324.00- 6335.00. This trade is intended only for subscribers who perfectly understand my instruction. (The tactic is covered in detail in the Hidden Pivot course that is free to most subscribers, including new registrants who recently signed up for a full year.) _______ UPDATE (April 2, 10:51 a.m.): A Hidden Pivot at 6692.00, about 90 points above, is where I would suggest shorting this bear rally. It is not impregnable, and a rip through it would imply the move is capable of 7030.75. However, I doubt this will happen. Worst case for permabears: a rally to 6780 or so that pulls back to 6522. That would trigger a ‘mechanical’ buy so juicy that even I would be a buyer.
ESM26 – June E-Mini S&P (Last:6602.00)