There was no follow-through to Wednesday’s short-covering rally, but I wouldn’t count bulls out yet. Even so, night owls shouldn’t pass up an opportunity to get short in the wee hours if the futures happen to be hitting a Hidden Pivot rally target at that time. That’s when nearly all intraday highs are occurring these days, sometime between 2:00 a.m. and 5:00 a.m. Eastern. In the present context, the short would come at p=2084.00, or p2=2087.25 if any higher. A stop-loss as tight as three ticks could be used — or the ‘camouflage technique’ if you know what you’re doing. These numbers would be negated by a dip below 2077.25, the point ‘C’ pf the pattern. Were this to occur, the larger, bearish ABC projects to 2070.75, a Hidden Pivot that could be bottom-fished with as tight a stop as you can abide.
