Although stocks looked ponderous on Thursday, the hourly chart for this vehicle remains persuasively bullish. The implied run-up to 2101.75 seems likely to generate a tradable top, possibly an important one. Of more immediate concern is whether the futures will get there at all or simply roll over in bearish fashion from these levels. Regardless, we’ll treat any trading opportunities that arise disinterestedly, implying a possible ‘mechanical’ buy at p2=2079.38 if the futures exceed that Hidden Pivot decisively and then pull back to it. Please note that the chart shown would become impulsively bearish if the futures should fall to 2068.25 today.
