The futures looked to be in cruise mode well above a minor Hidden Pivot resistance at 41.110 when doubts struck yesterday. The ensuing tumble did no damage whatsoever to the hourly chart, although that could occur today with just a little more downside to 39.820. The importance of that number is shown in the chart, and as you can see, a move that touches it will have created a bearish impulse leg that could put Friday’s action in jeopardy. However, it would take a print at 38.210 to negate the 42.110 rally target given here earlier.
