We were briefly long yesterday morning, unaware that we were buying into an avalanche.  We wound up scratching the trade, but the position was actually profitable for about ten minutes when the futures rallied from within a single tick of the tradable low that had been predicted, a Hidden Pivot support at 1046.75.  The ride was short-lived, however, and ended abruptly when some allegedly shocking consumer confidence numbers hit the tape.  The futures dove in an instant but we came out fine, since we had already taken a partial profit on the position and implemented a cautious trailing stop (all  by way of  detailed, minute-by-minute instructions proffered in the chat room). We wondered aloud just who it is who is doing the expecting whenever these numbers are released.  It would have to be economists, since no one else we can think of would have been wider of the mark.  And now, whither the futures?  992.50 is the target I posted in the chat room, and it still looks great.  Keep in mind, though, that with July 4th seasonality at gale force right now, an unmitigated collapse would be highly unusual.  On the other hand, if DaSleazeballs had had the ammo to short-squeeze stocks at any point yesterday, they’d have done it.  In fact, the broad averages barely got a bounce the entire day.