Sellers appear to have exhausted themselves at yesterday’s lows, which came within a hair of the 3573.75 Hidden Pivot target shown (see inset). The bounce thus far is bullishly impulsive on the lesser charts, most immediately via a rally leg concluded at 3:36 p.m. EDT that exceeded a small external peak at 3618.50 on the 3-minute. The move projects to 3629.75, a Hidden Pivot resistance that would become an odds-on shot above the 3619.25 midpoint resistance. You may need to zoom all the way down to the 1-minute bars or less to find an ‘external’ peak to leverage a long entry opportunity. ______ UPDATE (10:33 a.m. EDT): The futures easily exceeded the target flagged above but have gone into untradable, headless-chicken spasms in both directions since the opening bell. A key ‘external’ peak at 1357.00 recorded yesterday remains untouched, a challenge to bulls — or perhaps a taunt.
