The futures have taken a tentative bounce from within five points of the 119^10 Hidden Pivot support that I’d flagged last week as a potentially important low. The minor uptrend that has ensued so far projects to 121^28, but the June contract would first need to get by its midpoint sibling at 121^04 to challenge the higher resistance. The less delicately this scenario unfolds, assuming it does so at all, the greater the likelihood that we are witnessing the beginning of an intermediate-term rally with a lifespan of perhaps three to six weeks. This criterion would be fulfilled decisively if, within two or three days of reaching the 121^28 target, the futures were to close above it. _______ UPDATE (3:00 p.m. EDT):  This prediction worked nicely, since the futures are up sharply today, hitting a so-far high at 121^24.5 that fell just a few ticks shy of our target.  A trader in the chat room says he reaped $400+ from the move, but he was the only one I heard from — perhaps because getting long took aggressiveness and initiative that went beyond my analysis.