Tuesday’s rally was sufficient to lift our immediate gaze to 33.535, a Hidden Pivot midpoint of a large pattern on the intraday charts with potential to as high as 36.415, its ‘D’ sibling (see inset). Please note, however, that the modest promise of this uptrend does not negate the more likely scenario of a drop to at least 28.385, an important midpoint support identified here earlier. For purposes of bottom-fishing, night owls can use a small, impulsive rally on the 15-minute chart that has already created an A-B leg with coordinates, respectively, at 32.105 (11:45 a.m. EDT) and 33.040.
