There are some big downtrends at work, the nastiest of them projecting to as low as 14.690.  That’s not a prospect we should worry about at the moment, although it is indicative of the weight of long-term selling. More immediately, the December 29 low at 26.500 is more important than any Hidden Pivot targets we might be able to identify, since its breach would portend weakness over the next 6-8 weeks to as low as 20.370 (daily chart, A=43.430 on 9/2).  For today, buyers would need to push this vehicle to 28.180 to go back on the offensive. Otherwise, there is immediate jeopardy to 27.485, a minor Hidden Pivot whose provenance is shown in the chart. Calling the turns precisely and confidently is easier than you might think.  Want to learn how? Click here and get a $50 discount to the upcoming Hidden Pivot Webinar on June 6-7.