Friday’s powerful rally spirited the futures to within three ticks of the 40.975 rally target we’d been using. This Hidden Pivot has been eclipsed in trading early Sunday night, although subsequent action has been choppy and trendless. Since the 240-minute chart (see inset) now shows a compelling target at 43.910, we’ll make that our next goal. Keep in mind, though, that a pullback to the midpoint is always possible, and it would be pretty wicked: 38.735. The best way for bulls to avoid getting trapped is to monitor micro-patterns for signs of fatigue. If buyers are weakening, it will be reflected in the failure of the ‘D’ targets of small uptrends to be reached, but also in corrective abc patterns exceeding their midpoints or even ‘d’ targets.
