INX – S&P 500 (CME) (Last:1985.54)

An alert chat-room denizen spotted the target shown, and it’s a jim-dandy.  Pivoteers will notice that the point ‘A’ low seems to be positioned in the middle of nowhere.  In fact, it is at 244, the low of the 1987 Crash. The remaining two coordinates are so clear as to leave little doubt about the importance of the resulting 2028.44 Hidden Pivot target. So far, the S&Ps have gotten as high as 2011.17 — close enough for us to infer that a MAJOR top may already be in.  If so, we are covered via DIA puts that I suggested buying and which are still attractive (see tout for details). As I noted in the chat room, it is inconceivable to me that the stock market will NOT make a top of at least tradable importance very near the target, so you should position accordingly. ______ UPDATE (Sep 9, 7:56 p.m.): There are more exchange vehicles tracking the S&P 500 that one can count, but depending on which you use, the Hidden Pivot target given above could be as low as 2018.04.  If so, that would mean that the so-far high at 2011.77 came even closer to fulfilling a price objective that had been  27 years in coming. Our trading bias should therefore be bearish, with wider-than-usual-stops for any short positions taken. See today’s E-Mini S&P tout if  you want a precise way to gauge the bear’s strength at any point in time. _______ UPDATE (September 15, 12:43 a.m. EDT): So far, so good — even if progress to the downside has been labored. The INX appears bound for the 1982.23 target of (on the hourly chart) A=2007.51 (9/5): B=1982.99 (9/10); C=1997.65 (9/11).  The current correction up to (and slightly past) the 1985.29 midpoint pivot is therefore short-able if via camouflage.