If the bull is ready to come roaring back, it will be signaled by an uncorrected thrust that exceeds the two peaks labeled in the chart. The higher of them lies at 979.70, a benchmark noted here earlier. However, if the futures ease lower first without having exceeded 954.90, I’ll recommend bottom-fishing at 936.40 with a stop-loss at 934.90. Brace for more downside to 917.90 if the stop is hit. _______ UPDATE: The small breach this morning of 934.90 is not a healthy sign, notwithstanding the $14 bounce off the subsequent low, 931.60. In any event, the bullish implication of a print at 979.80 remains valid.
