I was conservative in my estimate Tuesday night and wound up raising it in the chat room to 748+. By day’s end, though, the futures had outbid me, putting in a high at 753.00. That left them in good shape to try for 771.75 today, or perhaps 778.00 at the very outside. Both are Hidden Pivots, but I wouldn’t suggest digging in your heels there just to prove a point. If the futures go just a tad higher than that today, exceeding 779.50, bears had better cover on the bell and repair to their fallout shelters over the weekend, since the short-squeeze could conceivably go nuclear. Note to Doc, Audrey et al: The equivalent targets for the June contract are, respectively, 769.00 and 774.25.
