Getting it wrong can be instructive, so view the clumsy tactical errors in this lesson with an open mind. Stocks were in their steepest selloff in months, and so we naturally made the mistake of thinking they would bounce from promising-looking Hidden Pivot supports as always. Instead, sellers barely seemed to have noticed the pivot, which evinced no discernible bounces. Did this price action doom the rally into day’s end that was to follow? As of Thursday morning the answer to this question was yes, probably, although not with any great certitude.
