ESZ09 – E-Mini S&P (Last:1055.75)

There are too many enticing downside targets at the moment to pick just one, but they’d all become moot if the futures were to reverse from the least important of them, 1038.25,  producing a bullish impulse leg on the lesser charts.  A tiny peak at 1049.75 will serve just fine to tell us when this may have occurred. ______ UPDATE (10:51 a.m.):  The futures picked an alternative pivot from which to bounce, and bounce they did. They’ve easily pushed past the l-t-l peak at 1049.75, threatening not only to ruin bears’ day, but their whole week.