Two precise hits Friday at the secondary pivot (p2=2073.75) imply that the futures will make a tradable top at or very near D=2080.50, a target flagged here earlier, if and when they get past p2. The rally was somewhat subdued in comparison to the ones in AMZN and GOOG, and even though those stocks are overdue for a correction, the relatively measured move in the Dow and S&Ps could permit a little more upside on Monday before a correction sets in. Mechanical bids at either p or p2 are advised, provided you fully understand this tactic. If you instead got short at p2, some profit-taking was in order. However, consider a decisive penetration of p2 to the upside as a warning signal to cover the short.
