The futures ended the day all hot to trot, but I doubt they’ll get very far. We can use p=7780. 75 as a minimum upside objective for now, but if short covering makes quick work of the resistance, expect the rally to continue to at least p2=7883.44 or even d=7986.25. Rallies in most vehicles and time frames have failed to complete their respective patterns, and I don’t expect this one to end differently. However, I will remain on high alert for a bear-trap squeeze to marginal new all-time highs.
$ESZ26 – December E-MIni S&P (Last:7725.00)
