The futures looked like they were revving for a push to as high as 1084.00 when the week ended. Instead, they had to settle for what passes for a cliffhanger these days — an intraday recovery high at 1069.25 that exceeded the midpoint pivot by two ticks (see chart). The Hidden Pivot at 1084.00 can still serve as a minimum upside objective if the short squeeze continues, but keep in mind that a print at 1049.25 would turn the lesser charts bearish. _______ UPDATE: The futures flounced their way up to 1084.00, there to lollygag for two hours before renewed short-squeeze pressure pushed them up to 1090.oo for the close. This means that shorts — Will they ever learn? — will begin Tuesday seriously on the ropes.
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