As noted in today’s commentary, we should set the bar at 966.80 to avoid a false bullish signal.  A thrust touching that number would turn the daily chart bullish, most convincingly so if the rally leg doesn’t correct for more than a day after exceeding the lower peak at 949.00 (#1) shown in the chart. The bearish scenario should be equally straightforward:  a test of lows made in April, respectively, near 880 and/or 960.  More immediately, the first hint of a potentially bullish turn would come today at 936.40. That would create a promising impulse leg on the hourly chart. (RA)