The pattern shown in the chart leads nowhere no matter how you slice it.  That’s two weeks’ worth of paint drying that you see, and far be it from me to guess when something is going to change.  A semblance of a rally reappears if you take a few steps back, and it even produces a rally target of sorts:  1163.50, a tad below an earlier target at 1166.00 (same pattern lower point ‘C’). I’d infer the futures are on their way there if they can close above the 1144.50 midpoint for two consecutive days.  More immediately, traders can try bottom-fishing at 1129.25, stop 1128.50, provided  1138.25 is not exceeded to the upside first.  If the stop-loss is hit, consider it a warning of more slippage to as low as 1120.50. _______ UPDATE (9:17 a.m. EST): A thrust to 1138.25 overnight invalidated the trade as given, although not the downtrend. The futures would now have to pop to 1143.25 for bulls to take charge.