Two important Hidden Pivots await to challenge the gumption of Wall Street’s mechanical bull.  The resistance points lie, respectively, at 1748.00 and 1767.00, and we’ll be looking to get short in either place — to make a small profit, even, if we’re wrong and stocks simply ratchet past both. The lower number can be used as a minimum upside projection for the near-term, but with the caveat that the party — in its 56th month now and as frivolously energetic as ever — could end at any moment.

If the higher target is in fact easily surpassed, we will once again have underestimated the foolishness that has driven stocks ever higher since 2009 and which would now flout abundant evidence that the Republic itself is crumbling. (Click here…or…here, if you need to be convinced.) Traders can use a stop-loss as wide as 2.25 points shorting 1748.00 if they are reversing a long position entered at 1739.00 or lower, but we’ll play it by ear if there’s a trade at 1767.00. The chat room will be the place to be if you’re game to play.