ESM13

ESM13 – June E-Mini S&P (Last:1581.75)

– Posted in: Current Touts Free Rick's Picks

Yesterday's tiresome pump-priming produced a marginal new high that got the futures within four points of the 1583.00 target given here yesterday.  The weak selling that ended the day left a 10-point rally to be traded -- presumably via camouflage, since the action has been so herky-jerky. Notice that after-hours selling has produced two 'external' peaks that can be leveraged for this purpose, and there could be more of them by the time you read this.  If you miss this opportunity, I'd recommend taking the short from 1583.00, or perhaps from 1589.00, an alternative target derived from the lower point 'A' (see  inset) at 1542.75.  'Camouflage' is the method of choice here, since both targets used the nadir of Tuesday's nutty swoon for a point 'C' low. _______ UPDATE (6:10 p.m. EDT):  The intraday high occurred at 1588.25. Shortly thereafter, a chat-roomer with some impressive camo chops, Davis, reported getting short at 1585.75. He took one contract home with him and we wished him good luck. Want to join in the fun? Click here for a free trial subscription that includes daily touts and access to a 24/7 chat room that draws experienced traders from around the world.

ESM13 – June E-Mini S&P (Last:1572.00)

– Posted in: Current Touts Rick's Picks

In the chat room, in response to a query, I suggested incorporating yesterday's hysterical swoon into any target calculations or camo strategies. I'm curious myself to see whether this works, but regardless, there is likely to be something to learn. On the lesser charts, the pattern itself is clear if erratic, and it yields a short-term rally target at 1583.00. Notice that price action relative to the midpoint support is increasingly looking like a consolidation, implying that camo traders should position from the long side.  There are no true 'external' peaks to leverage for this purpose, but the three I've highlighted should suffice.

ESM13 – June E-Mini S&P (Last:1573.50)

– Posted in: Current Touts Free Rick's Picks

The clock ran out on yesterday's slow-motion short-squeeze, leaving the futures a couple of ticks shy of the 1562.00 rally target shown.  What you should notice first, however, is the fine 'camo' opportunity that followed the creation of a point 'B' high just a tick above a prior 'external' peak (labeled N in the chart).  Granted, the double bar 'C' low is not exactly perfection. But the  trade the followed entry at 'x' was manifestly worth a B grade nonetheless because bulls would have experienced little pain once aboard.  Our next rally target is 1564.00, and it can be found on the hourly chart using the following coordinates: A=1536.25 (4/19 at 10 a.m. EDT); B=1557.50 (4/21 at 10:00 p.m.).  Since 1553.25 is the pattern's p midpoint, night owls might look for a camouflage entry opportunity on a pullback to that number.  ________ UPDATE (11:42 a.m. EDT): The algos have had little trouble pushing this projectile through minor Hidden Pivot targets on the hourly chart. The last of them lies at 1579.00 (A=1530.75 on 4/18), a logical minimum upside projection for today.  Camo traders can try shorting there, but I'd risk no more than three ticks theoretical per contract.

ESM13 – June E-Mini S&P (Last:1555.00)

– Posted in: Current Touts Free Rick's Picks

It's Sunday night, and the bullish lunatic fringe appears to have recovered its composure following last week's mayhem and jihadist intrigue. At the moment, they've got the futures up about 8 points, equivalent to 100 on the Dow.  The move is NOT yet bullishly impulsive even on the lowly 15-minute chart (see inset), but DaBoyz could remedy that with a relatively modest push above the 1559.50 'external' peak shown. This seems likely, given that any uptrending ABC you choose to examine on this chart has exceeded its 'D' target.  Because of the subtlety of the 1559.50 peak, night owls should look to board following any b-c pullback from just above it.  The set-up looks sufficiently appealing that I can scarcely imagine it failing.

ESM13 – June E-Mini S&P (Last:1541.50)

– Posted in: Current Touts Rick's Picks

The larger, downtrending pattern projects to 1521.25 (see inset), but a smaller one at the right-hand edge of the chart could provide 'camo' access without much sweat.  Obviously, a breach of the still-tenuous point 'C' high would alter the trade, but night owls looking for action should monitor this developing pattern closely, since it showed promise as of around 1:50 a.m. EDT.

ESM13 – June E-Mini S&P (Last:1542.75)

– Posted in: Current Touts Rick's Picks

The power and persistence of yesterday's selloff made a short at any 'x' a winner, since there were few rallies to stop out bears at point 'C' highs. This could be the start of something big, but getting aboard will require paying diligent attention to intraday price action. Look for me in the chat room if you're interested.  While it's disappointing that a 1594.25 target I'd featured here for a while missed the recent top by a crucial 1.25 points, stranding short offers at that price, if a bear market is indeed under way there will be other opportunities to get short -- and to make some money trading both sides of the market.

ESM13 – June E-Mini S&P (Last:1582.00)

– Posted in: Current Touts Free Rick's Picks

We attempted without success to short a longstanding rally target at 1494.25 last Thursday, when the target was approached within 1.25 points. A 90-minute 'impromptu' trading session online produced no opportunities that looked enticing.  Even in retrospect, we can see in the accompanying chart that the 'duel' between bulls and bears makes shorting a difficult proposition at the moment. Nevertheless, short-term action slightly favors bears, and that's why I'm suggesting that you look for your 'camo' entry signal on a downtrending impulse leg similar to the one drawn.  Please report any fills in the chat room, since I will establish tracking guidance if at least two traders get aboard and survive to the point p of the entry pattern.

ESM13 – June E-Mini S&P (Last:1585.75)

– Posted in: Current Touts Rick's Picks

I've deliberately underpublicized a major rally target at 1594.25 so that it has a better chance of working.  We examined the pattern that produced the target during yesterday's weekly tutorial session for Hidden Pivot Webinar grads and found that it has aged without losing any sex appeal. Notice in the chart that the k-A and B-C segments have a strong sibling resemblance. Another thing to like is that the elongated C-D segment will have obscured the idiosyncratic perfection of the entire pattern from the eyes of Gartley-pattern chartists and others. Pretty as this picture is, I strongly doubt that the futures will get by it without providing a tradable pullback.  We'll attempt the short via camouflage even though I expect the top to occur within 1.00 point of where it should. The task will be made easier if we work this opportunity together, so I would ask Pivoteers who have been dogtailing the E-Mini S&Ps in the chat room lately to signal the camo short in timely fashion if it turns up on the very lesser intraday charts.  I'll be there myself to help make sure we get this one right, since it's the best shorting opportunity we've seen since late February. _______ UPDATE (April 12, 1:36 a.m. EDT): I opened an online trading session for 90 minutes yesterday so that we might look together for the opportunity detailed above.  At this point, shorts should be attempted only via camouflage for two reasons: 1) the futures have traded close enough to the target that it has effectively been fulfilled; and 2) I still expect a tradable top to occur at or very near 1594.25.  Using camouflage, we can avoid getting impaled if the futures exceed the target, but more to the point, we can take advantage of any subtle opportunities

ESM13 – June E-Mini S&P (Last:1563.50)

– Posted in: Current Touts Free Rick's Picks

Check out the chart to refamiliarize yourself with the 1594.25 target we've been using as a minimum upside objective. Given Friday's nasty swoon, the red-line midpoint at 1562.00, is not exactly a point of consolidation, but yesterday's spike through it implies nonetheless that our target is still a good bet to be reached, and soon. Camouflageurs should play only from the long side, looking for impulsive patterns that meet our simple criteria on charts of five-minute degree or less. As of around 2:25 a.m. EDT, a minor bullish pattern on the 10-minute pointed to 1574.00 thus: A=1566.00 (4/9 at 11:20 a.m.); B=1569.00  (3:00 p.m.); and C=1561.00 (9:10 p.m.).  X entry at 1564.25 (not a camo x, incidentally, but one of higher degree) is a single tick from being hit, and once this has occurred, you should do your camo-hunting on charts of lesser degree.  Click here for details about the upcoming seminar on 'Camouflage Trading', plus a $50 discount.

ESM13 – June E-Mini S&P (Last:1566.750)

– Posted in: Current Touts Rick's Picks

Although I'd advised you to forget about shorting this vehicle until it hit 1594.25, getting long should be attempted only with great caution. Notice how the corrective abc begun from Monday's  high reversed precisely from its 1552.50 midpoint support. That is implicitly bullish, but initiating a 'camo' long at x could subject one to an all-nighter waiting for enough lift to get to p.  You'll know by the time you read this how things played out, but my hunch is that the relatively modest rally will stall at D, asssuming it even gets there. (Late bulletin:  C was a tick from getting breached.) _______ UPDATE (12:03 p.m. EDT):  The futures launched from a slightly lower point C minutes later.  When it becomes available shortly, check out the recording of Lesson #2 in the No Trader Left Behind series, since we'd anticipated this trade via a timed buy-stop that would have worked effortlessly.