Unlike the E-Mini S&Ps, the Diamonds didn’t quite reach their rally target yesterday.  I was projecting a 101.08 top, but the actual high occurred at 100.78.  The failure is bearish on its face, but it is perhaps even more bearish that the bounce from Tuesday’s low has sputtered out so quickly.  That low was linked to the key bottom at 97.75 recorded on May 25, and if it is breached we can expect the selling to continue down to at least 96.12.  While it is too late to jump on the July 96 puts as originally intended,  I will note nonetheless that if it pops above a midpoint resistance at 2.52, it’s headed to at least 3.29.