The bearish pattern on the hourly chart has grown more compelling with last week’s destruction, bringing a 1020.00 target into focus. I’ve selected a one-off ‘A’ (see chart) to produce this target, but the higher, obvious one at 1291.25 would yield an even more dismal objective at 996.50. We’ll know better which obtains by watching the price action at the patterns’ respective midpoints: 1097.75 and 1086.00. I’ve reproduced the chart with annotations to encourage some of our chat room experts to track this one in real time, with the possible goal of scalping a rally or two on the way down. If the lowermost target, 996.50 is achieved — as why should it not be? — a commensurate fall of about 1000 Dow points is implied.