The impulse leg highlighted in the chart looks very promising for night owls, even if a point ‘C’ high has not yet been established.  If the so-far high at 790.00 endures, however, I’d suggest bottom-fishing at 778.25 (the midpoint Hidden Pivot) using a two-tick stop-loss.  If the futures waft higher Monday night, the midpoint gambit will remain appealing as long as ‘C’ is no higher than 792.00 or so. ______ UPDATE: The correction never even got down to the midpoint, even after the midpoint migrated slightly north overnight to 779.50.  As of 1:50 p.m., the futures were threatening another assault on bears, chomping away at a 799.75 target that is the highest I could have projected for today using the intraday charts. 

The 894.80 downside target given here yesterday is still viable and remains my minimum objective for the near term. However, if the futures are going to get out of jeopardy, they’ll need to  touch 936.80 by day’s end.  The key impediment to this feat lies at exactly 925.10, so any thrust that exceeds that Hidden Pivot resistance by a point or more shouldbe taken as an encouraging sign.

I like the 12.865 target shown in the chart for bottom-fishing, since the ABC coordinates are subtle and unintuitive. This one is for night owls, and the odds that it will work are going to improve if  the futures don’t wander above 13.070 Monday night. An initial stop loss as tight as 2-3 ticks is advised, but you should switch to a 3-cent trailing stop if the expected rally exceeds 13.085.  _______ UPDATE: The Hidden Pivot at 12.865 proved far too delicate for this morning’s uninhibited swoon, so anyone who took my advice would have been stopped out for at least a few ticks. The  rebound has been unimpressive and has yielded no further opportunities of consequence this morning.