Bulls will have the benefit of the doubt as the new week begins, since Friday’s low fell just two ticks from a Hidden Pivot correction target at 2069.25 that had taken a week to reach (see inset). To find a set of tradable coordinates for Sunday night, I’d suggest zooming down to the 5-minute chart and focusing on this bullish pattern: a=2072.50 (Friday, 2:00 p.m. EDT); b=2079.25 (2:55 p.m., still tentative); c=? _______ UPDATE (July 27, 9:32 a.m.): The futures have relapsed beneath Friday’s low, generating an impulsively bearish pattern on the hourly chart that projects to 2055.50, or 2046.75 if any lower. (A=2103.75 on 7/24). p=2063.75 can be used to set up a mechanical short.
