The futures wafted higher from the opening bell, unstoppable as always, and now they’re inching past my 2007.50 target in after-hours trading. The target was a minor one, but the fact that it has shown no stopping power whatsoever suggests that tomorrow will bring more of the same — perhaps with a Friday Follies effect for comic relief. So where to next? The pattern shown, with a 2041.25 target, is no beauty contest winner, but it’s good enough for government work. The interesting thing about this Hidden Pivot is that if it’s reached, the cash S&P Index will be trading far enough above its long-term target at 2028 — one that I’ve been drum-rolling lately — to imply that it has been busted. As mentioned here earlier, that would put a 2140.58 target in play for $INX, a Hidden Pivot resistance that come from substituting as a point A, the August 1982 low of 102.42 for the 1987 Crash low.
