The futures overshot a compelling Hidden Pivot rally target on Friday, but I’m going to allow for the possibility that an alternative target worked precisely and could mark an important top. Both targets are shown in the chart, and although the higher of them, D2=1923.25, is not one that I would typically take seriously because it is derived from a ‘too-obvious’ low at 1803.25, I’m inclined to give the pattern the benefit of the doubt nonetheless because of the nasty reversal in momentum stocks late in the session.  If D2 is exceeded by more than perhaps 2-3 points, however, a Hidden Pivot rally target at 1954.25 will be in play.

Although I had suggested here earlier that the high-fliers, particularly AAPL, might pull the stock market higher, we’ll have to wait and see whether the opposite holds true — i.e, that either the world-beater stocks pull the broad averages down; or that the broad averages pull the world-beater stocks up.  Interesting times, in any event. _______ UPDATE (10:06 a.m. ET):  Bulls have gotten sucker-punched by DaBoyz yet again as the futures fall hard from a marginally positive opening. The actual peak was at 1924.25 — not far enough above the 1923.25 pivot to ‘actualize’ the bullish scenario discussed above.