The futures are getting whacked in night trading, presumably because the usual idiots are fearful that all the other idiots are starting to fear that prospects for enactment of the $700 billion sausage are dimming. This is rubbish — the pols unfortunately are not about to let us down — but if it persists, chalk it up to the fact that DaBoyz think they’ll get more bang for their short-squeeze buck if the Momentous Announcement comes over the weekend. Regardless, our formerly too-ambitious rally target at 1257.75 will remain viable as long as 1180.25 (aka point ‘C’) is not exceeded to the downside. More immediately, night-shift sellers are apt to meet with resistance at 1192.75, a midpoint support whose pedigree lacks the je ne sais quoi that might bring us more enthusiastically to bottom-fishing. _______ UPDATE: The futures have fallen hard overnight, picking up support in a perhaps too-obvious place –i.e., near lows made the previous night, before Thursday’s short squeeze. If the bailout remains stalled, as seems likely, and the stall persists next week to the point of genuine seriousness, the ES futures would face additional jeopardy to as low as 1085.50, a Hidden Pivot target that goes back to a 1431.50 peak recorded back in late May.