I flagged a 1932.25 downside target on Friday, but let’s shift now to a bigger picture in case the selloff from Thursday’s whacko-induced peak starts to snowball. As you can see, it has already tripped a theoretical sell signal at the green line, which comes in at 1946.00. This price point is associated with Hidden Pivot supports at p=1880.50, p2=1814.75 and D=1749.25, but we’ll use only the first for now as a minimum downside objective. These are steep steps, with a distance from one to the next equating to a Dow fall of roughly 500 points. ‘Mechanical’ shorts from each will be possible, but we’ll need to cut the entry risk down to size by initiating on charts of lesser degree any trades that are signaled. For a primer on how to do this, Hidden Pivot Webinar grads should check out the recording of last week’s tutorial session. It details a new tactic: applying the technique of camouflage entries to mechanical trades. Subscribers can also tune to the chat room discussion for guidance in real time. _______ UPDATE (10:46 a.m. EDT): This morning’s volume-less waft has exceeded a minor rally target and an external peak on the lesser charts from Friday. This implies more upside to 1974.50 over the near term, provided the p2 pivot at 1969.50 with which it is associated gives way. On the 15-minute chart, you can reconstruct the pattern with a=1944.00 at 4:15 a.m.
