We exited our long position Monday night for a small paper-gain of about $800. I mentioned looking for a new entry spot near 1702.60 in today’s commentary, but my hunch is that a better one will come at 1633.00, the midpoint hidden Pivot support of the pattern shown. Bottom-fish 1702.60 using camouflage or, more simply, a 0.70-point stop-loss, but if it’s hit, brace for another round of selling. Alternatively, bulls could regain control with a pop today or tomorrow exceeding 1770.50.
