I’ve made this target a do-it-your-selfer, since too much publicity can compromise the usefulness of even the most picture-perfect Hidden Pivot. This one surely falls into that category, and you can find out its exact location by checking out my 9:34 post in the chat room from June 30. It is a number that can be shorted with a stop-loss as tight as 1.25 points, or used to reverse a long position initiated from current levels. Or you could simply sit back and enjoy the show. Its shorting potential is heightened by its location relative to the previous all-time high. To calculate the target, use the 6/18 low as your starting point. I have deliberated flattened the price bars so as to further obscure the notable result. Pay heed as well to the fact that the midpoint pivot provided only shaky resistance and that it has been since turned into support. ______ UPDATE (1:18 p.m. ET): We shorted 1967.00 but got stopped out 75 minutes later. Shallow retracements are keeping bears on the hook today, but I’m still planning to short a single contract at 1972.50, a minor Hidden Pivot target, stop 1973.25, if there’s at least an hour left in the session.
