The peak of yesterday’s wild swings hit 43.560, a nickel beneath our 43.610 target. It remains valid, as does another Hidden Pivot at 44.600 that would be in play as a minimum upside projection if the lower number is breached by more than three ticks. Alternatively, while a feint below 41.815 this morning wouldn’t negate the rally target, it would create a bearish impulse leg of hourly degree that should be treated by bulls as a yellow flag.
