The futures groped their way lower on Wednesday, although a full day’s worth of jittery chop did not quite get them to the 2064.75 target shown. The herky-jerky descent was tradable nonetheless, since virtually all of the intraday swings paid deference to Hidden Pivot levels x, p and p2. ‘Mechanical’ bids or offers at each would have yielded a fruitful if tiring day. At the moment, sellers are showing such timidity toward the modest project of reaching 2064.75 that it may be more rewarding for night owls to run, or perhaps saunter, with the bulls. Whichever course of action you choose, be prepared for a tedious slog into the wee hours.
