Day three of airless tedium was even more (i.e., less) impressive than the two days that preceded it, yielding an intraday range of exactly 11.75 points.  I suggested taking the day off to those who attended yesterday’s tutorial session, but it might even be possible to stay away until Labor Day without missing much. The prognosis is bullish nonetheless, although I would expect the futures to drop beneath the lower threshold of the three-day range — meaning below 1018.25 — to get some running room for the next thrust. A 0.618 retracement of the rally begun a week ago from 976.75 would bring the September contract down to 1000.00. I would suggest buying near there only if there is a camouflaged ABC rally to get you on board. ______ UPDATE (3:51 p.m.):  The futures have followed the script given above, falling to 1015.00 this morning before roaring back with a strong impulse leg on the hourly chart. Bears should consider this a shot across the bow.