It wasn’t supposed to be a struggle yesterday to reach a Hidden Pivot at 1261.80 — which, as you will surely know, the futures never did. What we saw instead was a garden variety bull-trap that got sprung overnight.  Now, because the rally died at 1254.50, we’ll need to ratchet down our expectations a tad and ask that bulls demonstrate their case one impulse leg at a time.  For starters, we may be able to get a read on this vehicle as early as Tuesday night, since the dainty pattern shown in the chart ought go no lower than the ‘p’ midpoint — and certainly no lower than ‘D’ —  if bulls are to remain in command. The no-sweat scenario would be for the futures to simply pump once or twice today or perhaps tomorrow to reach 1261.80.