The 1491.80 target shown in the chart looks like a lay-up from here.  If you shorted the top of the recovery bounce using the 1521.60 midpoint target I aired during yesterday’s tutorial session and in the chat room, some profit-taking was warranted, since the pullback from the 1521.00 high came down to 1512.60. Unfortunately, 1491.80 looks like a poor place to try bottom-fishing because of its close proximity to a too-obvious structural low at 1492.00 recorded on April 26.  The Hidden Pivot is likely to be useful for analysis, however, since the extent of any bounce can tell us whether sellers may have exhausted themselves. _______ UPDATE (11:40 a.m. EDT): The futures gapped through 1491.80, turning it into resistance and further darkening the near-term outlook. We’ll use a 1451.80 target now, subject to clustered action near its 1486.90 sibling midpoint.