After starting the week with a pop to within less than a point of a well-advertised Hidden Pivot at 1113.00, the futures have developed a yellow streak contemplating the next, 1132.25. This is what happens when the dirtballs who run this carny game can no longer move Goldman $10 in a day. If the bank stocks are not leading the market higher, then the market is simply not going higher. It’s as simple as that. Bears looking for a heartening sign should cross their fingers and hope the futures dip below 1074.00 today, since that’s what it would take to turn the hourly chart bearish.
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