Take a look at the hourly chart if you’re worried that yesterday’s selloff was anything special. In fact, the uptrend from Monday’s 1048.60 low is intact and projects to 1073.00, provided the midpoint sibling of that Hidden Pivot, 1062.80, can be surmounted. Alternatively, it would take a decline to at least 1038.90 today to turn the intraday charts mildly menacing.