There are two promising benchmarks to monitor that can tell us how much thrust short-covering will be able to provide in the wake of a Congressional rescue vote. The first lies at 1257.75, a Hidden Pivot broached here previously that should serve as a minimum upside objective over the near term, as well as place to try shorting with a stop-loss as tight as 1.50 points. The second, its ‘D’ sibling at 1335.25, seems farfetched given the nation’s apparent lack of enthusiasm for a taxpayer-dependent bailout. However, we should save some ammo to buy more puts in the unlikely event that we are given the opportunity to do so with the futures at the higher pivot. _______ UPDATE: The thrashing the futures received Sunday night left the bullish targets given above theoretically intact, since the 1180.25 point ‘C’ low used as derive the target survived. However, if the E-Mini S&P should succumb to a few more days of adversity and indecision, we should use a Hidden Pivot support at 1167.25 as our minimum downside objective. It comes from the point ‘A’ high at 1218.75 recorded on Friday. _______ FURTHER UPDATE: A new target of 1137.25 has been posted in the chat room, but now that we’ve gotten a sense of investors’ feelings about the alleged resuce package, no target below these levels, no matter how extreme, should be regarded as implausible. The ease with which these targets are penetrated can tell us how likely it is that the downtrend will continue.