Friday’s upthrust cleared an important peak at 1763.00 from December 8, refreshing the bullish impulsiveness of the daily chart. My hunch is that it will take another day or two of consolidation before the futures are ready to roll again. However, because all three price points of the rally pattern we’d use to get long are single-bar, we should be alert for a ‘surprise’ upthrust to ‘X’ that could be converted into a camouflage opportunity on charts of lesser degree. _______ UPDATE (3:43 a.m. EST): The futures are getting hit early Monday morning, down as much as $18 to a so-far low of 1721.90. The nearest Hidden Pivot target below is 1719.70, but if it fails, look for the weakness to continue down to at least 1702.00 over the near term. Alternatively, bulls would need to hit 1742.70 to turn the tide.
