A Key Threshold for the Broad Averages

Index futures were subdued Tuesday night after coming within a hair of some key rally targets that I’d flagged here earlier. It will be no great surprise if they pull back from these levels, only to come roaring back with another crazed upthrust before the week is over. Even so, we’ve grown accustomed to treating each new record high as an opportunity to get short, especially when the high closely coincides with an important Hidden Pivot target. If you want to see how much higher the S&Ps could go if they decisively exceed this latest target, check out the E-Mini tout for today and the chart that accompanies it.