After we’d targeted a Hidden Pivot resistance at 1212.50 in our crosshairs for days, we missed shorting the top on Friday when the futures plunged from a peak an inch below it. (The actual top at 1210.50 had been recorded the day before.)  Is this the start of a major downtrend? It sure feels like it, even if it’s valid to ask why, given the headlines, the Dow was not down 300 points instead of a paltry 126. Still, even a stock market that has been deaf, dumb and blind to reality will not be able to simply shrug off sobering new realities that have percolated into the headlines.   From a trading perspective, although there are not likely to be any “easy” shorts today, our general strategy will be to look for camouflage opportunities at the ‘p’ midpoints of minor retracement rallies. This will take some getting used to, since it’s a price dynamic that we have not seen much of in more than a year.