The futures finished the week with a whoopee cushion rally that allowed subscribers who got long the day before to come away with a profit of as much as $3,000 per contract. The pattern, with a 4462.25 rally target, remains intact for next week, provided the E-Mini can hold above the ‘C low at 4277.00. After topping on Friday, it came down hard, giving up all the day’s gains and settling near the green line (x=4323). This generated a theoretical ‘mechanical’ buy signal for a presumptive second shot at p=4369, but I would not have advised it so close to the final bell. _______ UPDATE (Oct 3, 8:13 a.m.): The futures are struggling to hold above d=4299 of the small reverse pattern shown in this chart. If this ‘hidden support’ fails as I expect it to, the December contract should be presumed headed to D=3956 of the larger pattern. It is gnarly but not illogical.
ESZ23 – Dec E-Mini S&Ps (Last:4256.25)
