Recent price action may seem crazed, but the futures have shown themselves to be the absolutely obedient (if unwitting) slave of our Hidden Pivot targets. For starters, the top of yesterday’s short-squeeze spike missed the 51.77 target shown by a whopping three cents. The subsequent crash then fell to within three cents of a midpoint support on the daily chart at 46.37 (A=55.51 on 1/2). If that Hidden Pivot is breached today by more than a few cents, expect the futures to fall to exactly 41.00 in search of traction.
