We weathered a lot of kicking, screaming and flailing yesterday, but in the end, buying by Larry Kudlow alone proved insufficient to move the E-Mini S&P futures above a Hidden Pivot resistance at 1115.75 that was drum-rolled in yesterday’s tout.  The fact that there were evidently no real sellers around was undoubtedly a plus for Larry, but he’ll need the help of panicky bears if this lead balloon is to waft higher, as it might. In the meantime, we can use an “external” peak at 105.23 (May 19) to warn us when the pit bulls have begun to pose a minor threat to our peace of mind, if not to our hunch that a collapse looms.  We continue to hold four July 96 puts for 0.70. _______ UPDATE (June 18):  Two days of what passes for “action,” and the Diamonds have yet to go any higher than 104.84.  They are getting heavy, for sure, but don’t count DaBoyz out yet, since they have been able to sustain altitude while biding their time ahead of the next short-squeeze opportunity.