The darned thing did practically everything a bear could have asked of it yesterday –except continue to fall after the overnight lows got taken out.  What could account for sellers’ apparent faint-heartedness when they had bulls on the ropes? Lack of conviction?  More likely it is fear that was lacking, although we shouldn’t rule out its emergence this week, since it could easily start to snowball if the futures fall even moderately over the next day or two without finding good traction.  Night owls will find scant camouflage if the futures pop above 988.00 in the wee hours, since this seems likely to excite enough buyers to necessitate our entering after the first point ‘C’ has been stopped out.  I have sketched this scenario in the accompanying chart for your guidance.