We’re looking to get short at 1386.25 or above, but the trade will need to be initiated via camouflage since there are three other closely spaced ‘D’ targets above it that could mark the eventual top. They lie, respectively, at 1388.00, 1392.75 and 1397.75 (see inset) and are shown in the accompanying chart. Odds that the futures will reach the topmost Hidden Pivot before reversing sharply are probably no worse than even, because the Big Picture rally begun in December of 2011 recently exceeded its 1368.00 midpoint resistance by 7 points. Night owls should trade from the long side, using the 5-minute chart for leverage. Shortly after 2 a.m. EDT, the futures were looking pretty feisty, reaching the ‘p’ midpoints of most minor rally patterns.
