The painfully constipated price action of the last two weeks argues against our trying to swing-trade this vehicle. It’s for day traders only at the moment, and my bias from a Hidden Pivot perspective is mildly bullish, since no “external” lows on the daily chart have been breached in the pullback from the 1224.50 high recorded on November 5.  Night owls should check out a very minor corrective pattern on the 5-minute chart that could conceivably allow tightly stopped bottom-fishing at an 1183.00 pivot. _______ UPDATE (3:14 a.m. ET): The futures dipped to 1181.25 before the bounce we were expecting happened, but the best you could have done was grin and bear a five-tick ($62.50) loss if you’d traded this one without camouflage.  The countertrend rally is perfectly clear on the five-minute chart and should be assumed headed for at least 1194.75 once midpoint resistance at 1188.00 has been surmounted.