Shortly before 11 p.m. Tuesday the futures were probing for support that seemed most likely to materialize at 801.50, a minor Hidden Pivot support that can be bottom-fished with a three-tick stop-loss. The support is not chopped liver, so you can take an overshoot as big as the stop-loss as evidence that bears are likely to dominate Wednesday’s opening. Alternatively, it would take a print at 822.75 to turn the lesser charts bullish. _______ UPDATE (10:10 a.m.): Su-prize su-prize. The futures made their overnight low three ticks above the 801.50 pivot noted above; then they rallied to within four ticks of the bullish trigger at 822.75. If their apparent enslavement to our Hidden Pivot rules continues, they’ll either confront the next, minor resistance above, 836.75; or die.
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