E-Mini S&P (975.00)

If the Dow is indeed headed as high as 10111, this vehicle could get to 1090.75, a Hidden Pivot equivalent to the one flagged in the Indoo. The midpoint pivot at 978 has already been exceeded, but as of Monday night the futures had yet to blast free of it. To gauge the strength of any rally today, we should look for signs of resistance at 1022.00, a lesser pivot that should nonetheless show at least 10-15 minutes of stopping power. _______ UPDATE: Overnight weakness is being attributed to punk earnings from SunMicro and Texas Instruments, but the selling seems a tad overdone if that’s the case, especially with Libor spreads detumescing sufficiently to console and comfort bulls. My guess is that DaBoyz have pulled their bids, manipulating a correction from yesterday’s egregiously overbought highs in order to create some bargains for themselves.