I’ve reflexively used a not-so-distinctive one-off ‘A’ to project minimum downside to the 2134.25 midpoint support shown, but if there’s no bounce from that number, look for it at 2131.50, an alternative Hidden Pivot calculated from the ‘marquee’ high at 2182.75 recorded on September 8. The futures showed little pluck on Monday, ratcheting slowly over the course of the day to within less than a point of a minor, 2138.50 target I’d disseminated in the chat room early in the session. Sellers eventually put in a low at 2136.75, and although that’s not enough of an overshoot to ensure significantly more downside ahead, neither is it exactly a sign of good health. At any rate, 2131.50 had better hold, since a decisive failure there would put a 2090.25 downside target in play. That is the target of the pattern shown, but drawn from the highest high rather than the one-off.________ UPDATE (Sep 27, 12:24 a.m. ET): The futures have unaccountably taken a Whoopee Cushion bounce tonight from 2133.25, a low that lies within the narrow range between the two Hidden Pivot supports noted above. At the moment, buyers have stalled at the exact, 2153.88 midpoint resistance of a rally pattern projecting to 2174.50 (A=2131.50 at noon on 9/21). A decisive push past p would put the 2174.50 target well in play. It lies just inches from new all-time highs._________ UPDATE (11:17 p.m.): Zzzzzzzzzzzz. Today’s gratuitous spasms lowered the target to 2174.00, the midpoint resistance to 2153.38.
