Using a signal disseminated in the chat room, we tried to bottom-fish the 1238.50 midpoint shown in the accompanying chart. When the 3-tick stop-loss was breached, though, it was time to turn tail. At least one trader went short on the break, though, since it implied more downside to 1195.00. That is my minimum projection for today, and the target can be bottom-fished with a stop-loss of 1.25 points. Nightowls can try and catch the southbound ride by shorting the midpoint or perhaps the ‘d’ target of any retracement rally that surfaces on the 5-minute chart. Please note that the futures would need to hit 1240.50 to abort the downtrend. _______ UPDATE: As of 2:30 a.m. EDT, the E-Mini looked like it was doing its evil best to trap bulls with a low volume squeeze in the dead of night. A Hidden Pivot at 1244.00 looks like it will be the end of it, if not somewhere lower, but the pivot is not worth shorting because it lies within the thick of a visually evident supply zone on the 5-minute chart.