Bulls shouldn’t get their hopes too high, since yesterday’s earnest-looking rebound came in the wake of a 1342.50 low that exceeded a clear Hidden Pivot target by four points. That’s bearish, so traders should position from the short side Tuesday night. Most immediately, that could entail, for example, finding on the 1-minute chart a southbound abc from the midpoint or D rally target of the still-developing pattern shown. More easily accomplished, perhaps, would be a straight short at the ‘x’ of a very minor downtrend.
