Buyers have demolished big-picture targets with ease, exhausting the supply of them. In order to come up with a new target to guide us in trading this vehicle over the near term, I’ve focused today on a smaller pattern that is effectively an extension of larger ones. It projects as high as 2633.75, but for the time being let’s use the 2587.63 midpoint Hidden Pivot as a minimum upside objective. As always, an easy move through so clear an HP resistance would shorten the odds of the rally’s continuing to the D target. For now, please note that a ‘lazy’ pullback to the green line would generate a ‘mechanical’ buy signal. The word ‘lazy’ here has a rules-based connotation that you should understand before attempting the trade. If you are not familiar with the rule, please tune to the chat room for guidance in real time.
