For night owls, a midpoint support at 16.110 looks compelling as a place to try bottom-fishing.  This Hidden Pivot is equivalent to the one noted in today’s gold tout, and it comes with the same caveat. A decisive breach would imply more immediate downside to as low as 15.920.  Alternatively, it would take a pop today above 16.970 to turn the hourly chart into a cannon. ______ UPDATE (10:46 a.m.EST): Support at 16.110 proved neither precise nor durable, although the pivot was central to an overnight distribution that took two hours to play out.  The relapse has sent the futures down to as low as 15.785 so far this morning, bringing into focus a 15.415 target.  On a 180-minute chart, that is the midpoint support associated with A=16.950  (Feb 3).