A clear and compelling target at 28.100 held for all of five hours after being marginally penetrated earlier in the day. This is bearish going forward and implies that any bottom-fishing must be done via camouflage, since our goal whenever we trade this vehicle is to hold theoretical risk at entry to $70 or less per contract. Night owls can attempt a scalp-trade entry at the 28.045 target of the minor pattern shown. A somewhat larger pattern (180m, A=30.390 on 5/7) augurs success bidding near 27.680. If that Hidden Pivot fails as well, however, the next place where we might look for a turn is from 26.980 (480m, A=34.480, B=29.990). Alternatively, buyers would need to drive this vehicle above 29.455 to get something serious going.
