Regarding the 4670 target in today’s commentary, it comes from the chart displayed with the essay, although the one I’ve linked to this tout makes the ABC price points explicit. Hidden Pivot aficionados may notice that the point ‘B’ of the pattern did not exceed the low recorded in March 2003. While that would make me think twice about about using 4670, precisely, as a place to bottom-fish, the weight of the downtrend itself suggests it is well capable of reaching such depths.