Wild as the swings were on Thursday, they didn’t alter the 2061.25 correction target disseminated last night via an update to the previous tout. The pattern that produced the target could have been useful to anyone keen on bottom-fishing, since the overnight low, as well as the wackiest bounce of the day, came from within less than a point of its 2069.50 ‘secondary’ Hidden Pivot support. I expect the last remaining target, 2061.25, to display similar precision. Look for a tradable low there, or possibly even an overnight or intraday bottom. ______ UPDATE (9:37 a.m., from my post in the chat room): The futures are bouncing off p=2063.75 from the 5-min chart (a=2089.75), but the pivot looks to have been sufficiently bruised to suggest the p2=2057.63 is coming — and maybe even d=2051.50. These targets will remain valid unless 2076.00 is exceeded to the upside.
