The 1083.50 target given here earlier comes from the weekly chart and corresponds to a Hidden Pivot midpoint at 1199.25. Accordingly, the latter number would likely be the upper threshold of any distributive rallies over the next day or two, but 1083.50 would remain as my minimum downside projection nonetheless. (That would be the equivalent to a nearly 700-point fall in the Dow.) For your further guidance, I have reproduced a lesser pattern, also from the weekly chart, that shows Wednesday’s bottom to have fallen within two ticks of an 1156.50 target. The fact that it was nine months in coming implies that it should hold up for a while — ordinarily, perhaps 7-10 days or more. However, these are not ordinary times, and if the support were to give way as early as today or tomorrow it would be evidence of very eager selling yet to be spent. So caveat emptor, especially to anyone contemplating scalp-trading from the long side as we come down.