ESZ09 – E-Mini S&P (Last:1088.00)

A week’s worth of white noise has left the futures in a state of tedious limbo. Friday’s zig followed Thursday’s zag, and if it wasn’t entirely predictable before the opening bell, by day’s end it looked like as orderly on the hourly chart as a seismograph of Kansas. The downtrend looked bound for a Hidden Pivot support at 1067.00, exactly 4.50 points beneath the actual low. That will be our minimum objective when stocks open Monday morning, but I’ll update Sunday night if it looks like the Furies have had a change of heart. _______ UPDATEThe futures are headed higher this morning for whatever non-reason, but the rally has the same old heart — of a chicken — as last week’s go-nowhere, alternate-day bursts.  The 1067.00 target will remain valid in any event, provided 1095.25 has not been exceeded to the upside.