The bullish pattern shown is very unorthodox — gnarly, as I like to say — but it’s all we’ve got right now to get an objective handle on the S&Ps wilding spree. For now, let’s allow for the possibility that the 2581.25 Hidden Pivot target has very precisely caught the mythical and elusive Mother of All Tops. Enough said about that, since it’s not the first time I’ve raised this possibility over the last eight-and-a-half years. We’ll just have to wait and see. If the futures push decisively past it within the next couple of days, though, we’ll need to haul out a very long-term chart of the S&P cash index, or perhaps a continuous futures chart, to see where it might be pointing.
