From a trading standpoint, I don’t see much to enthuse about in the hourly chart, although it seems clear that rallies yesterday and Tuesday were fakes, since neither exceeded two prior peaks on the hourly chart. I have no targets to offer if another fake rally materializes today, but on weakness look for the futures to come down to at least 1119.25, a Hidden Pivot, or to 1063.00 if they close for two days beneath it. _______ UPDATE: The futures plummeted to within a single tick of the 1119.25 target, making a low that held for an hour and which yielded an easily tradable bounce of 10 points. The subsequent breach of the support at day’s end, albeit by just 4 points, implies more weakness is coming.