At the risk of sounding like Prof. Irving Fisher at his most notorious, stocks appear to be incapable of falling these days.  There was zero buying interest yesterday, and yet, instead of pulling back to get some running room, the E-Mini S&Ps remained airborne, never dipping more than two points below a Hidden Pivot target at 1137.25 that we’d used to get briefly short the other day.  Of course, when we become truly convinced that the futures cannot fall, a mental alarm should go off warning us that that is exactly what is about to happen. Even so, I wouldn’t suggest staying short this vehicle simply because 1137.25, or somewhere thereabouts, is a logical place from which the inevitable plunge is likely to occur. We’ll stick to our discipline and accept the fact that we were stopped out, but let’s keep in mind that it will nearly always be possible to get more or less risklessly short on tiny abc downtrends; and that when the market finally does fall apart, the avalanche will begin with a barely noticeable impulse leg on the 1- or 3-minute chart.