No change. We remain focused on an 871.25rally target that can be shorted with a stop-loss as tight as a point (or 2.50 points if you are reversing a long position). The bear rally would be in jeopardy on a print at 824.75, although the bullish target itself will remain viable down to 802.25. Night owls please note: A Hidden Pivot at 841.50 looks very enticing as a place to try bottom-fishing. The futures have just bounced precisely from its sibling midpoint at 846.00, so any breach of that support might be expected to bring ES down to the target. _______ UPDATE (10:35 a.m.): The night owl trade worked like gangbusters, since risking as litle as $50 on the initial stop-loss would have returned as much as $700 per contract. The rally to 855.00 was halted by a minor pivot that looks like it eventually will be surmounted, but there is no evidence of any particular strength today. A Hidden Pivot at 861.75 can be used a a minimum upside target for now.
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