If stocks are now involved in a bear-market rally within a bear-market rally, we might expect the Nasdaq futures to reverse at a level no higher than the hidden pivot at 1859.50. But if that D target is surpassed by one point or more, only a pivot at 1877.50, derived from a lower “A” point, will stand in the way of new highs for the larger bear-market rally that began almost exactly a year ago. _______ UPDATE (5:15 p.m. EST): We got a bounce from 1859.00 which lasted two hours but gave us limited profit potential. Subsequently the futures surpassed the 1859.50 target by almost three points, then pulled back substantially. The 1877.50 target remains active.