The E-Mini S&PS have turned up, so far anemically, from an inch above the 5710 correction target I flagged here earlier.
Because I doubt the bounce will see new highs, I will be attempting to get short at 5901.50, a crucial Hidden Pivot resistance, with a very tight stop-loss. If the trade is stopped out, the rally will face two additional, daunting ‘hidden’ obstacles at, respectively, 5991 and 6080.25. The latter is my maximum upside projection for the bounce and a tempting place to back up the truck and load up with shorts.
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