The last three days have seen bull-trap highs occur on or before the opening bell. Do we detect morons at play here?  Actually, it’s probably just the same old dirtballs, marking time until they can get a more potent short-squeeze going. It’s hard to say why they’ve been having such difficulty with this, since squeezing gratuitous rallies from brain-dead bears has been their modus operandi for nearly six years.  From our perspective, a still-outstanding Hidden Pivot target at 2105.00 is the number to beat — or at least achieve.  In the meantime, day-trading this vehicle will be akin to sitting in on a poker game where you know all the other players are cheats and thieves.  We can beat them anyway, but it’s probably not worth the effort.