Someone in the chat room posted a downside target tonight at 7649 that looks like the best of an unappealing lot. The midpoint at 8282 has already been busted, so in theory we should be using 7649 as our minimum downside objective. In practice, however, any short to that number — presumably initiated near 8282 — would be subject to a nasty bounce from the visually obvious support of the three bottoms just below 8000 that were recorded in the last five weeks. _______ UPDATE: Surprise surprise, the futures opened soft after hitting an overnight high of 8281. YM may be able to fake its way above the pivot this morning, since DaBoyz are having some moderate success pumping buoyancy into Goldman, if not into Citi.