There is no change in my outlook, given here earlier as follows: “The pattern from which the 1073.20 target disseminated yesterday was derived looks too pretty not to play out. You can bottom-fish aggressively, and this time I’ll leave the stop-loss up to you. It can be as tight as 4-6 ticks. If the target gets bombed, however, we’ll need to consider the 1044.50 structural low — early February’s bottom — as a minimum downside objective.” Alternatively, a print today at 1096.90 would be most encouraging, since it is where complacent bears who watch the intraday charts closely might start to feel threatened.
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