The rally sputtered out a point-and-a-half shy of a midpoint resistance at 1802.75 that we were using as a minimum upside target. The consequences were worse than I might have expected, and bulls appeared to be hanging on the ropes when the bell rang. If they are still on the defensive when stocks open Thursday morning, look for the selloff to continue down to the 1740.25 target shown. That Hidden Pivot can be bought cautiously, with or without camouflage, but you can be more aggressive if you’ve been short for the ride down. For some timely tips on how to get short, Pivoteers should review the recording of the latest tutorial session as soon as it is posted. (It should be up by no later than Thursday morning.)
