A key aspect of Hidden Pivot analysis holds that if a rally target is exceeded easily, the uptrend should be presumed bound for a target of still-higher degree. In my latest tout for the E-Mini S&Ps, I’ve flagged a minor target that lies 25 points above Monday’s high. It seems likely to be achieved, but I will wait until this happens before I wax confident about even higher targets. Even so, the chart included with today’s tout shows that, in the context of a longer-term uptrend, a key resistance has already been exceeded, auguring prices well above the 2809.75 target featured here lately. Moreover, the major resistance was overcome so easily that the lesser one at 2809.75 seems likely to get demolished, whether it takes hours, days or even weeks. For now, we’ll simply observe (and trade when opportune), letting the futures tell us very clearly what they intend.
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