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NQU20 – Sep E-Mini Nasdaq (Last:10,682)

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The futures have bounced robustly after coming nowhere near our opportunistic bid at 9579.  Now they appear bound for the 10746 Hidden Pivot target of the pattern shown.  A run-up to that number, at least, is very likely because of the ease with which buyers turned the 10628 midpoint resistance into support in less than a day. If the rally pokes through 10746 decisively, that would telegraph a likely  test of all-time highs just above 11,000 recorded last week.  It is not yet a given, however, since the broad averages have seemed heavy for more than a week, notwithstanding that most days have produced at least modest gains. ______ UPDATE (July 28, 7:01 a.m. ET): The futures topped overnight at 10758, a tenth of one percent above where predicted, before selling off sharply.  The 12-point overshoot is most surely not sufficient for us to assume that a test of the old record high is inevitable. _______ UPDATE (Jul 29, 7:44 p.m.):  Buying interest has been close to zero, but DaBoyz evidently are determined to keep this hoax aloft for distribution until the last sucker has been coaxed aboard. This is apparent in the failure of perfectly fine, minor ABC downtrends to even reach their Hidden Pivot midpoints.  Here’s what I’m talking about.

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