0520_RicksPicksThe futures spent Wednesday tracing out yet another gratuitous hump that would have enriched few, whether bulls or bears. The rally portion of the hump was inconsequential because it failed to exceed the previous day’s high.  It was prompted by “news” of the latest drivel from the Fed, and although the initial, upward frenzy gave way to an equally demented plunge, bears shouldn’t get their hopes too high that this could be the beginning of a significant selloff. As DaBoyz have proven time and again, they can hold stocks at least buoyant on days when there are practically no buyers around.

However, lest bears despair of the possibility that the bull market — 74 months old and driven by smoke, mirrors and brazen hoax  — will ever end, feast your eyes on the accompanying chart. It shows a still unachieved rally target at 2138.00 that would represent a marginal gain above Tuesday’s high. Because that important Hidden Pivot coincides with an even more important midpoint resistance at 2138.50 from a far larger pattern, I am recommending that you get short up there as aggressively as your nature will allow.  If the opportunity pans out, look for me in the chat room for more-detailed guidance.