It would take a rally today exceeding 1105.70 to jolt the futures from their dirge.  Although the downtrend turned mellow ten days ago, it is a downtrend nonetheless, and no rally since then has been able to puncture the two prior peaks we require on the hourly chart to signal a meaningful trend change.  From a too -abundant selection of downside possibilities available to us at the moment, I discern only one, at 1062.50, that looks like it could be worth bottom-fishing. A stop-loss at 1061.75 is recommended. _______ UPDATE (1:40 p.m. EST):   Today’s rally is robustly impulsive on the hourly chart and likely to provide buoyancy in the day’s ahead.  There has been no correction so far on the hourly,  and the futures will therefore have a chance to double the power of the rally via the small push it would require to surpass two more external peaks, the higher of which lies at 1118.50.