ESU10 – September E-Mini S&P (Last:1108.75)

September E-Mini S&P (ESU10) price chart with targetsThe futures were down the equivalent of a hundred Dow points early Wednesday morning, driven by weak Asian markets waxing fearful over the U.S economy’s apparent relapse into incurable sickness. The low so far tonight has been 1107.25, but there’s a Hidden Pivot support at 1101.00 that we should use as a minmum downside target for now. The fact that the decline of the last three days is occurring without the future’s having exceeded the 1129.50 peak of June 21 (see chart) is quite bearish, the moreso because bulls spent so much time just beneath it trying to break through.