The nearest Hidden Pivot support, a midpoint pivot at 192.10, is a logical place to try bottom-fishing, especially since other traders will have only vague expectations of an upturn from somewhere above the structural support (see inset) at 191.59. Accordingly, on the 5-minute chart, camouflageurs should start looking for an attractive boarding if and when the downtrend has reached 192.28. If you fill, please let me know in the chat room so that I can furnish a tracking position for you further guidance Please note that an easy breach of the pivot would imply more slippage to as low as 183.26, its d sibling. _______ UPDATE (July 23, 5:25 p.m. EDT): The last feint lower bottomed at 193.24, denying us a boarding opportunity. For now, we’ll put this stock aside. The fact that Big Blue is having such difficulty correcting to a midpoint pivot is bullish going forward.
