The uptrending abc pattern shown has the potential to lift the futures a further 26 points, to 2171.00. Although they paused just shy of p=2145.00, there has not yet been a sufficiently decisive pullback from this midpoint Hidden Pivot to precisely confirm the target. It lies just shy of a key ‘external’ peak at 2172.75 recorded on September 22, but the additional two points of upside needed to refresh the impulsiveness of the rally shouldn’t pose much of a challenge for buyers, judging from the vigor they’ve shown for two consecutive days. If Trump should be leading as Tuesday night wears on and the futures have gone no higher than 2144.25, we might expect a selloff down to at least 2108.75, the midpoint pivot of the bearish ABC pattern shown.
