A 1681.50 target may be growing stale, but that does not invalidate it. Late Sunday night, DaBoyz were attempting to develop thrust sufficient to push the February contract above Thursday’s 1670.60 high. Camouflage entry opportunities were exhausted earlier this evening, however, when the futures pulled back after breaching an external peak at 1668.80 also recorded on Thursday. Bulls take note: a breakout above 1670.60 could be a trap, since there’s an additional Hidden Pivot resistance at 1673.70 (see inset) with potential stopping power. _______ UPDATE (3:36 p.m. EST): The longstanding target at 1681.50 nailed the apex of today’s $18 rally within three ticks. Because it was so long in coming, we should treat the high as a potentially important one. However, if bulls should blow past it today or tomorrow, the next logical stop would be 1690.50, a Hidden Pivot.
