So much for the drum-rolled, promiscuously featured rally target at 1149.50.  The 1148.00 peak that actually occurred was a nasty tease if you were offering contracts short precisely at the target. Fortunately, there will alway be another opportunity — such as the Hidden Pivot support just below, at 1135.25.  Night owls can bid there with a two-tick stop-loss, although the support might prove a bit frail for the herky-jerky action that is common on openings.  You’ll be on your own if this one fills, but don’t hesitate to take a partial profit early on if you initiate the position with more than one contract. _______ UPDATE (10:24 a.m. EST):  With the disappointment over Alcoa, notice that even on a day when the stock market should have gotten creamed, the E-Mini S&P is down a paltry seven points.  This is yet more evidence that money flows remain sufficient to keep stocks buoyant no matter what the news or the condition of the economy.  Even so, it looks like the broad averages will have to sweat the negative earnings news out of their system this morning before they can resume their robotically ordained trek higher. The intraday low not only exceeded the Hidden Pivot, stopping us out for pocket change, it also exceeded the “false” D target we might have calculated if we’d used yesterday’s high, rather than the one-off high, as the ‘A’ of the down-pattern.