ESU24 – Sep E-Mini S&P (Last:5536.50)

I’ve used a continuous monthly chart to project a 6136.25 target for the E-Mini futures. A corresponding target in the cash S&P Index (SPX) lies at 6118.34.   These Hidden Pivots look likely to be reached, although not necessarily precisely, since the patterns from which they are derived will be all-too-obvious to every trader and technician in the game. They are nonetheless sufficiently compelling to not work in some fashion, presumably tradeably. In each instance, buyers had little trouble pushing past the respective HP midpoints, and that’s why I’m so confident the corresponding targets will be achieved. If the trend maintains its current slope, that should happen by no later than mid-October if not significantly earlier.

Leave a Comment