Stocks fell hard on Tuesday when crazed traders pretended briefly to care about oil prices and the Middle East, but otherwise the broad averages gave ground only grudgingly as the week wore on. This was hardly a picture of strength, however, and so we should wait to see how sellers interact with the 7247.26 ‘D’ correction target shown in the graph before inferring that a significant trend change has occurred. A rally to the green line (x=7548.38) in the meantime would trigger a ‘mechanical’ short, but I recommend the trade only if initiated with a ‘camouflage’ setup. The tactic is explained in detail in the Hidden Pivot course that I’ve made available free to subscribers.
ESU26 – September E-Mini S&P (Last:7401.75)