Yesterday’s gratuitous swoon, partially recouped in the final hour, carved out an unappealingly obvious low that lay less than two points from the April 10 bottom, 1352.50. From a Hidden Pivot perspective, we are left with the equally unappetizing pattern shown, a bearish tableau projecting to 1324.75. Getting short might be difficult, but tightly-stopped bottom-fishing could work at the still undetermined midpoint of the developing pattern shown. _______ UPDATE (10:18 a.m. EDT): The futures got nowhere remotely near a 1354.50 midpoint support when they looped over. This is bullish for today.
