Friday’s nasty short-squeeze in the final minutes of the session handily exceeded a Hidden Pivot resistance at 922.00, paving the way for more of the same Sunday night/Monday morning. The futures were up moderately around 10 p.m., presumably developing thrust for a leap to as high as 940.75 The midpoint resistance associated with that number lies at 928.75, but it’s not worth much for trading purposes because a print there would be a breakout above Friday’s high. From a big-picture perspective, the two peaks to beat lie at 938.25 and 1002.75. Both are shown on the accompanying chart, and if they are exceeded impulsively (i.e., by a rally with no b-c pullback), even the most ardent bears will have to rethink their case — or get out of the way.
