A Hidden Pivot correction target at 1702.00 is still in play, although the bad guys seem to be having difficulty pushing the futures down to such bargain levels. Their efforts left more crud on the intraday charts than we should care to ponder. However, I’ll suggest nonetheless that you use two lesser targets at, respectively, 1724.10 and 1711.50 to gauge the strength of the downtrend if it persists. Either of those Hidden Pivots can be bottom-fished with ‘camouflage,’ but you’ll need to be alert if the futures turn from the higher number, a ‘p’ midpoint, since the ‘X’ entry trigger that follows could come up very quickly. Alternatively, if bulls are going to come out on top today, they’ll need to exceed 1737.70, a small but important ‘external’ peak along the wall of yesterday’s decline.
