A by-now familiar target at 1356.00 beckons, but more immediately we should concern ourselves with a lesser one at 1312.75, a Hidden Pivot whose ABC origins are shown in the chart. A 3-tick breach would indicate 1315.00. However, best odds for shorting lie at 1312.75, stop 1313.50, since the ‘D’ target of a larger pattern (A=1249.50 on December 31) is 1312.25.
