Yesterday’s call here for a 500-point Dow rally may prove to have been one felicitous step ahead of the news.  With the U.S. economy headed into deepest recession, if not outright collapse, nothing makes me queasier than putting out such a bullish forecast. And yet, once again, mechanically following the discipline of the Hidden Pivot System has kept me honest and alert. Under the circumstances, there was no ignoring the fact that a bull cycle now five weeks old easily penetrated a key midpoint resistance on the E-Mini S&P’s hourly chart.  Whether this portends stupid new highs for the broad averages and yet more hubris on Wall Street remains to be seen.  Whatever happens, though, we’ll be ready.