You should be out of the long position initiated last Thursday at 2985.50. Numerous subscribers reported doing the trade, which was showing a theoretical profit of around $4900 at Friday’s highs. The nasty selloff into the close would have reduced your gains by as much as $2,000, since I’d advised a wide stop-loss at 2971.00 in order to swing for the fences with the contract that remained. Please let me know in the chat room how you fared, since Rick’s Picks P&L performance is based solely on what subscribers report, not on hypothetical trades. Looking just ahead, use the 2962.25 Hidden Pivot shown as a minimum downside target. The stock market looked like hell all day, and it is not an encouraging sign that it was unable to deliver on a swing-for-the-fences play that just a couple of weeks ago would have been a shoe-in. But before we assume stocks are entering a weak phase (or worse),  let’s see how well the 2962.25 Hidden Pivot support fares. _______ UPDATE (Jul 23, 6:25 p.m. ET): So much for that bearish target at 2962.25. The futures reversed after having gone no lower than 2969 and now appear bound for 3028.75. A pullback to 2984.25 on Wednesday would trigger a mechanical ‘buy’, stop 2969.25. _______ UPDATE (Jul 30, 10:31 p.m.): The futures have traded no higher than 3029.50 so far, so the Hidden Pivot resistance worked, and precisely. Some subscribers evidently got short, but I will need to hear from a few of you before I establish a tracking position. In any event, partial-profit-taking would have been warranted on the 28-point plunge that followed the high. _______ UPDATE (Jul 31, 9:58 p.m.): The bounce into the close tripped a ‘mechanical’ short to 2939.50  at x=2983.  I’d suggest spectating, since the low of the pattern’s C-D leg did not quite reach our sweet spot. Here’s the chart. ______ UPDATE (Aug 1, 6:40 p.m.): Good thing we held off on the trade, since DaBoyz gutted shorts before pulling the plug.