A measly 3% rally would reach the 7499.75 target shown. This is a composite chart, so we shouldn’t expect to see precise stopping power, but it should be close enough for government work. There are two other Hidden Pivot resistances to hold in mind if the futures keep going: 7644 and 10,336. That last number is the highest I can project on the monthly chart, and it is intended to stretch your imagination, especially if you are a permabear. Because penetration of p=6166.00 was effortless and decisive, it’s all but certain the lower target will be achieved. Since this is the bull market that won’t die, don’t assume the target will mark an important top unless it coincides with Iran’s complete surrender.
ESM26 – June E-Mini S&P (Last:7258.00)