The futures were falling hard around 3:20 a.m., down a little more than ten points and trading near their lows. However, the selling was steady and left no obvious reference points, even on the 5-minute chart, to plot ABC coordinates and a target. My hunch is that the selling will continue to at least 828.50, a vague midpoint support whose ‘D’ sibling lies at 808.25. If there is a bounce precisely from 828.50, that would affirm the validity of the target itself once the midpoint has been breached.
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