Priceline collapsed without having reached a 1286.11 rally target I’d flagged. This implies that the nasty downtrend from early March’s 1379 high could still have a ways to go. Most immediately, that implies a further fall to at least 1116.16, a Hidden Pivot support associated with the pattern shown (see inset). A rally to 1196.45 should be shorted via camouflage, but we will also try some tightly stopped bottom-fishing if and when 1116 is reached.
