The futures bounced for $7 from the 821.10 target given here yesterday, but the subsequent relapse to an intraday low at 815.10 is not a healthy sign. Whatever happens in the next 2-3 days, the juiciest buying opportunity I could conceive of — one with relatively little risk — would come into focus if the futures trace out a pattern similar to the one shown in the chart. Which is to say, our entry would come at the midpoint of whatever C-D leg follows the sharply impulsive drop from Friday’s 869.30 high.