Yesterday’s rally was noticeably lacking in oomph, having failed not only to reach a 1023.50 Hidden Pivot target by eight points, but also to surpass the  less challenging resistance represented by last Friday’s 1016.00 high. The 1023.50 target has been supplanted by a new one at 1027.50, and it should be easily reachable if there’s even a mild whiff of Friday craziness in the air. _______ UPDATE (1:15 p.m.) The aforementioned lack of oomph has drawn fresh inspiration this morning from collapsing consumer confidence. The Michigan number — surprise surprise!! — came in well below expectations. Some enterprising reporter for the Times or The Wall Street Journal ought to do an expose on the apparently clueless hacks whose “expectations” are taken so seriously but which more often than not are flat-out wrong.  Couldn’t any one of us do as well or better with a dartboard?