E-Mini S&P (763.50)

9158Since yesterday’s conniptions failed to boost the futures above the look-to-the-left peak shown in the chart, I’m inclined to give the somewhat larger downtrend the benefit of the doubt. It projects to 732.75, with a midpoint support at 756.00 that has already been compromised. The pattern is so gnarly that it shows promise as a place to try bottom-fishing. Accordingly, I will recommend that you do so if the futures dive to the target before the final hour. A stop-loss at 731.75 would be appropriate.