Because there are so many downtrending ABC patterns from which we can derive targets, I’ve emphasized one that generated a relatively large bounce from within a tick of its ‘p’ midpoint, 1133.75. The bearish D target that corresponds to that number lies at 1077.50, and so that Hidden Pivot would become our minimum downside objective if the futures were to close beneath the higher number or exceed it intraday by more than a point or so. More immediately, the futures are down 8.25 points and bears should therefore beware, since the dirtballs who control this game are notorious for fading the dumb money on Sunday nights.
