Friday’s low occurred in the tight range between two Hidden Pivots I’d flagged. I had to redraw the chart with 120-minute bars to see why. As it happens, there’s a Hidden Pivot midpoint at 1294.75, a single tick from the actual low at 1294.50. The bounce from it was nasty if you were short, but now we at least ‘know’ that a breach of the pivot will consign the futures to more slippage down to at least 1273.50, its ‘D’ sibling. There is also the 1276.50 ‘D’ of the larger pattern, so a strong bounce from either number, or from the tight spread between them, is extremely likely if the futures get down there (as seems likely). Which they will.