We’ve Got a Horse in the Race: Alibaba

New record highs for the broad averages seemed all but a foregone conclusion at Thursday’s close, so perhaps we should guard against the unexpected: weakness on a Friday! That would be very unexpected indeed, and it would probably take some earth-shattering news to bring it about.  Regardless, I’ve provided a Hidden Pivot rally target for the E-Mini S&Ps that can serve bulls and bears alike. We’ll also be looking for a pop in Alibaba, having purchased a few expiring out-of-the-money calls before yesterday’s close to keep ourselves interested in the week’s finale.