The E-Mini S&Ps have triggered a theoretical sell signal this morning by falling beneath 6113.44, a Hidden Pivot level.
Use a minimum downside projection of 6060.38 for now. That’s a ‘hidden’ midpoint support that should be good for a tradable bounce. However, if the futures penetrate it on first contact, especially easily and/or decisively, expect more slippage to at least 6007.31, the ‘secondary’ Hidden Pivot, or even d=5954.25.
It would appear that the Trump trade, with DOGE ballyhoo ratcheted up to the max, is starting to falter. Musk is talking about a $5,000 handout to every taxpayer, paid for with DOGE savings. Can we afford it? Of course not, and so merely floating the idea may have tainted Trump’s MAGA effort with the stigma of bread and circuses. The bull market is running out of steam, and we should therefore be especially cautious about buying the dips, never mind chasing rallies.
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