Nearly all ABC pathways point lower right now, but we should use the leastmost of them (see inset) to produce a minimum downside objective for the near term. It lies at 1606.20, just 1.00 beneath tonight’s so far low, but if that Hidden Pivot is breached, brace for more slippage to its ‘D’ sibling, 1546.20. Alternatively, buyers would signal a credible reversal if they can push above 1704.90, visible in the chart as an imperfect “external” peak made Friday on the way down.
