Bulls pulped the modest rally target I posted here yesterday, handily exceeding an important midpoint resistance that I’d flagged at 1380.20 in the process. This implies that the 1429.30 ‘D’ target with which it is associated is in play. First, however, a lesser Hidden Pivot at 1393.90 that was discussed in the chat room and during the impromptu webinar must be surmounted. As of around 2:15 a.m. ET Wednesday morning, it had been exceeded  by 0.70 points, but I’d like to see a more decisive breach before I get excited.  Anything above 1397.00 today will re-energize buyers, since it would create a fresh impulse leg on the hourly chart.