Pivoteers may have noticed that the rally from the October 29 low at 2603.00 tripped a ‘counterintuitive’ (CI) buy signal the next day when it touched the green line (see inset). A key test of bulls’ resolve will come if and when they reach the midpoint resistance at 2775.13 shown in orange. I strongly doubt they will exceed it by much, assuming they even get there. In any event, we’ll stay alert to a possible shorting opportunity at that level by monitoring price action on the lesser charts. Stay tuned to the chat room and enable your account for ‘EMail Notifications’ if you want to stay apprised in real time._______ UPDATE (Nov 7, 9:23): Bulls, reflecting on the election results, have somewhat exceeded the 2775.13 ‘hidden’ resistance. This is mildly bullish and has put a 2947.25 target theoretically in play.
