A 175.48 Hidden Pivot support that we’ve used as a minimum downside objective has kept us comfortably on the right side of a lengthening bearish trend. However, the hourly chart (inset) suggests that the damage could grow as sellers do the bidding of a succession of higher points ‘A’ that project to as low as 162.06. An upthrust exceeding 192.47, the point ‘C’ high of the pattern, would invalidate the series of descending targets, but we’ll retain our bearish bias until such time as that occurs.________ UPDATE (May 31, 8:43 a.m.): The stock has fallen overnight to within 33 cents of the 175.48 target. Please refer to the chart accompanying the tout for the sequence of lower targets yet to come. ________ UPDATE (May 31, 5:28 p.m.): Next stop on the way down: 171.82 (see inset). _______ UPDATE (Jun 3, 7:09 p.m.): Target achieved. The next lies at 168.32. _______ UPDATE (June 4, 5:44 p.m.): The short squeeze projects to 182.06, or 186.20 if any higher (60-min, a= 171.47 on 6/3); however, it would take a print at 192.47 to invalidate the series of bearish targets shown in the original chart.
