Conventional support down near 945.00 will likely turn magnetic if the futures take out Friday’s lows.  The actual bottom at 953.80 was a single tick from the target shown in the chart. Considering it took the August contract two days to make its way down to the pivot, the so-far modest bounce must be judged disappointing. If the bounce continues, there are no peak-lets along the steep wall of Friday’s decline that we could use for handholds to get on board. Under the circumstances, we’ll have to settle for a move above Friday’s 966.00 recovery peak to signal a possible turnaround, but it looks too obvious to afford us any edge.