ESZ24 – Dec E-Mini S&Ps (Last:5791.25)

The pattern shown makes the 5868.50 target look like it can’t miss. But it will, if not by much. It is too obvious a picture to yield a precise top and a sharp pullback from D that causes permabears to dance in the streets. Everyone is aware of this ABCD, even the math majors, and the mere anticipation of its final gasp is all but certain to queer D’s voodoo stopping-power. But the pattern’s Newtonian heft is also compelling — so much so that the futures are unlikely to get past D without a struggle if at all. One thing that is all but certain is that D is going to be reached before the Fat Lady can sing. The way buyers fisted p=5518.75 the first time they encountered this midpoint Hidden Pivot tells us that. Whatever happens, we’ll be looking to short a topping process rather than a top. Stay close to the chat room and keep your email ‘Notifications’ turned on if you don’t fancy being outsmarted by this creaky ship of fools.