Today’s analysis is filled with expert jargon, so for you Hidden Pivot novices, let me cut to the chase:  While immediate downside potential appears limited, it would require merely a push above  1377.80 — just $4.00 above Tuesday night’s so-far high — to turn the hourly chart bullish.  Now for the argot:  Friday’s decisive penetration of a 1357.00 midpoint support would seem to have left the futures vulnerable to a fall to at least 1321.20, its ‘d’ sibling. However, the very sausage-y point ‘B’ demands the use of a one-off A, which can be found on the hourly chart.  Once we do so, we see that the A-B leg is just a composite of a lot of little downlegs on the hourly chart.  This is reason to mildly distrust the 1321.20 target and the short-term weakness that it would seem to imply.