Bulls did what we’d asked of them yesterday, blowing past a minor external peak, but the futures were having trouble sustaining altitude in after-hours trading. More specifically, they were chopping erratically lower shortly after 9 p.m. EDT after a failed attempt to consolidate above the 1869.40 midpoint pivot shown. Its ‘D’ sibling lies at 1889.50, a Hidden Pivot that would become our minimum upside objective for the very near-term if and when the December contract overwhelms the midpoint. Most immediately, however, the 5-minute chart was impulsively bearish, even if the selling was not very convincing.
