Sellers crushed the 2631 midpoint Hidden Pivot support shown in the chart, significantly shortening the odds of a further plunge to as low as 2456.50. Any worse than that seems unlikely over the near term because the target is so clear, but we should use p2=2544 regardless as our minimum downside objective for the near term. A rally back up to the green line would trigger a ‘mechanical’ short, stop 2807.50, but it seems unlikely that we’ll be gifted with such an opportunity. Under the circumstances, any shorts initiated Sunday evening or Monday morning should be based on downtrending ‘camouflage’ ABCs of lesser degree. Start with patterns like this one, then zoom down to a 5-minute-or-less chart to create ‘camouflage’ entry set-ups with initial risk under very tight control.
