From a Hidden Pivot standpoint, the only thing of interest that occurred in this vehicle last week is that it failed by 11.50 points to hit a juicy target at 7023.00 that I’d advertised.  We were therefore unable to get off an opportune short, not because the target was front-run, but because the gratuitous daily blips that have been passing for rallies lately were too weak to reach it.  A logical conclusion is that the clueless meandering within the channel shown is starting to break down, and that the two recent breaches of the lower line might be significant.  I promised to be sparing in my use of the words ‘topping process’, but that ‘s what we are lookng at, it would seem, and it has become almost too tedious to watch.  However, since I always try to leave you with a price target no matter how muddled the price action, I’ll proffer a bearish one at 6748.00. which comes from conventional A=7027.25 on Feb 3. It can be traded despite the pattern’s obviousness,  but I’ll recommend it only to those of you who know how to execute a CI (counterintuitive) entry.