The futures rose very precisely Thursday on Hidden Pivot ‘steps’, although it took a wicked swoon late in the session to develop sufficient momentum to reach 1992.00, my target for the session. The intraday peak of the day’s powerful, 50-point rally was 1990.50 — close enough for our target to be considered fulfilled. It’s anybody’s guess whether the arse bandits who work the night shift will be able to squeeze the futures still higher, but if they do, they’re likely to meet discernible resistance at 1996.50, a minor Hidden Pivot. The effect will be compounded by psychological resistance at the 2000 barrier. Under the circumstances, the best we can do for now is to wait and see whether short-covering can overcome a major impediment. DaBoyz are not likely to give up easily.
