I’m not even slightly impressed by the so-far 75-point short-squeeze off the recent low, and neither should you be. In fact, were the rally to run for another 50 points, it would still fall shy of the 2105.00 bull-market target we’ve been using for months. (The equivalent target we’d used for the December contract was 2115.00.)  This Hidden Pivot resistance still looks both compelling and daunting, and I would therefore be surprised if: 1) it were not achieved; or, 2) it were to be exceeded by more than a point or two the first time it is touched.  That doesn’t necessarily mean the pivot resistance is impervious to destruction — only that the rally that has unfolded so far this year has faced no impediments of any significance.  The bull market’s levitators are not omnipotent, and so we should save the oohs and ahhs until such time as they blow past 2105.00  Whatever happens, we’ll be looking to get short at or near the target and — as always — to make money on the trade even if we are wrong.  If you’d like to see how this is done, join us in the Rick’s Picks chat room, where trades are called in real time.