Although we had our hearts set on shorting the little sonofabitch at 1196.50, yesterday’s dive has turned us into reluctant buyers.  The pellucid abc down-pattern shown in the chart yields a ‘p’ midpoint and downside ‘D’ at, respectively, 1173.00 and 1166.50.  The higher number is unusable for bottom-fishing because it closely coincides with Wednesday’s panic-stricken low;  however, you can bid the lower number with a three-tick stop-loss.  If it’s bombed, notice that the obvious high at 1188.00 can be used as a proper ‘A’, providing us with a possible second chance for tightly stopped buying down at 1164.75. If that number is achieved with at least 90 minutes left in the session, you should buy it aggressively, stop 1163.75.