Today’s weakness was palpable, and yet bears couldn’t put this gaseous hoax away. In the early going, the futures dipped for a couple of hours beneath a Hidden Pivot support at 2053.63 (see inset), implying they would eventually fall to D=2029.75.  But ‘eventually’ never came. Instead, a weak short-squeeze held this cagey vehicle buoyant until the close, leaving a graphic picture (see inset) that begs for the other shoe to drop. The 2029.75 target will remain viable in any case, provided the point ‘C’ high of the pattern, 2077.50, is not exceeded to the upside. Traders with the patience to hunker down on the 3-minute bar chart may find opportunity in this, but certainly no easy pickings. ______ UPDATE (May 5, 1:47 a.m. ET): The bearish 2029.75 target flagged above remains valid in theory and can be bottom-fished with a very  tight stop-loss. However, bears struggled so hard on Wednesday to hold this hoax down that we should give the benefit of the doubt to any bullish impulse legs that gestate on the lesser charts. At the moment — 1:44 a.m. — this appear to be happening on sub-30 minute charts. _______ UPDATE (7:37 p.m.): Zzzzzzzz. No change: 2029.75 is still my minimum downside target.