So absorbed was I yesterday in the task of leveraging AAPL’s wilding spree that I overlooked a potentially very important development in the S&Ps.  For its part, Apple, trading around $636 at the moment, looks unstoppable for the next 25 points, magnetically locked on a Hidden Pivot rally target at 660.26.  The E-Mini S&P futures, on the other hand, peaked two ticks above a rally target so clear and compelling that it has the potential to end the bull market begun in March of 2009.  Clearly, one or the other will win, and my hunch is that it will be Apple. The stock is a crucial market bellwether, and its rallies are sometimes strong enough to drag the entire stock market with it. We shall see.

Regardless, I would suggest at least a small bearish bet on the opening — perhaps the purchase of some out-of-the-money puts in the Diamonds. This would effectively create a straddle for subscribers who bought bullish butterflies in AAPL yesterday. For night owls who trade futures, there has already been one low-risk opportunity to short the E-Mini S&Ps using ‘camouflage’. The relevant pattern can be found on the 5-minute chart, with an entry signal at 1916.00 that came at exactly 10:05 p.m. Eastern.

For what it’s worth, every dog in the neighborhood was barking like crazy Thursday night. Have the heavens perhaps moved into a position that augurs a world-shaking crisis?  We may be about to find out.  For a free peek behind the subscriber wall and access to the Rick’s Picks chat room — no credit card necessary — click here.