The rally from Thursday’s 1287.50 low is bullishly impulsive on the lesser charts and would trip a buy signal at 1309.70 on the pattern shown. Accordingly, day traders should come to their task with a bullish bias. The bigger picture, however, needs a decisive push above 1331.90, the midpoint Hidden Pivot resistance of a bull cycle that projects to 1376.30. If the midpoint is exceeded by week’s end it would all but clinch a follow-through to 1376.30.
