A longstanding target at 1195.00 (basis September) held for a while, but sellers returned in droves after the close to push the futures down a further 20 points in night trading. The weakness pointed to 1176.75, basis the December contract, or if any lower, 1166.25, then 1147.25. The second number in the sequence, 1166.25, looks like the best place to attempt bottom-fishing, provided you can handle a stop-loss no wider than 1.50 points. You’ll be on your own if the order fills, but consider taking profits on a rally of as little as 6-8 points. _______ UPDATE: The 1166.25 support has been breached by 3.25 points before the opening, so look out below! If 1147.25 falls just as easily, expect the plunge to reach a minimum 1137.00 next.