The unexciting rally off this morning’s low looks bound for an unexciting target at 1314.25, a Hidden Pivot. It’s not bullishly tradable, at least not easily, but bored night owls could consider shorting a downtrending abc from that number if a suitable pattern turns up on the one-minute chart. The bigger picture remains bullish, but the first opportunity I could see to trade it would require a B-C pullback from between the two labeled peaks. Moreover, the approach would need to be choppy in order to mask any perceptions of strength that will have accrued up to that point.
