The bottom of Friday’s plunge fell an inch from the 1272.00 midpoint support flagged in the update I posted intraday. This corroborates and affirms the pattern itself, along with its 1209.75 ‘D’ target. We may infer that a further decline to that last number is an odds-on bet if p is decisively breached (which in this case means by more than 2.00 points). Meanwhile, I would expect DaBoyz to play it gingerly Sunday night in order to create the impression that no panic impends. They might succeed if the news environment is not too bad, but any rally would be a short nonetheless. Since I’ll be traveling back to Denver on Monday, I’ll leave it to Pivoteers to find a painless way to get aboard. Suffice it to say, we should expect rallies of all degree to fail at either their p midpoints or d targets.
