Index futures have opened Sunday night with a timid thrust higher. Please note that this vehicle would need to hit 2057.75 to demand our attention, since that would generate a robustly bullish impulse leg on the hourly chart. Although I strongly doubt this will happen on the first trading day of 2016, we shouldn’t be surprised if, after a day or two, shorts have backed themselves into the same corner where they freaked out last week to trigger a two-day spasm of short-covering. Whatever happens, DaBoyz seem unconcerned at the moment that the new year will disrupt the business-as-usual blitheness that has prevailed on Wall Street since 2009. _______ UPDATE (11:42 p.m. EST): The flurry of buying faded quickly, giving way to a dive that projected to 2019.00, a Hidden Pivot one point beneath the so-far low. The rebound should last for at least an hour or two, but if the pivot gives way sooner it would portend more slippage down to December’s lows near 1990.00.
