Buyers couldn’t get altitude on Friday, but neither did they give up much ground. There’s a rally of as much as 90 points in the offing, but the futures will first need to get past a midpoint Hidden Pivot resistance at 2199.00 that lies 40 points above (see inset). They tripped a theoretical buy signal by touching the green line, but there was no reason to have gone home long over the weekend after a day of churning, especially when there was not enough price action above the green line to set up a ‘mechanical’ trade there. Under the circumstances, we’ll have to wait and see what Sunday night brings. Stay close to the chat room if you want to be closely apprised of any opportunities that develop in real time..
