Bulls Will Face Some ‘Hidden’ Obstacles on Thursday

DIA and the E-Mini S&Ps both topped on Wednesday just millimeters from important-looking rally targets that subscribers have used in recent weeks to remain comfortably on the right side of the trend. Although we never expect to nail the elusive Mother of All Tops with these targets, it is quite common for them to repel buyers, at least for a day or two. If, as we might expect, the broad averages simply blow past them on Thursday, it would indicate that bulls have much loftier goals in mind. In any event, we’ll shun speculation and simply watch to see how much resistance the two Hidden Pivots offer as Friday approaches.