The futures have been down as much as nine points in subdued trading Monday evening, carving out a low beneath the would-be support of last Thursday’s bottom, 1006.00. Still, sellers have shown themselves to be so gutless lately that we shouldn’t count on any more of a reality check than our toothsome 992.50 target would seem to allow. The target has been advertised for long enough that I wouldn’t suggest trying to bottom-fish with the usual nickel-and-dime stop-loss.  Instead, traders keen to catch a possible swing low should start looking for a camouflaged turn on the 3- or 5-minute chart once the futures reach 994.50 or so on the way down.  If sellers should surprise by overshooting 992.50 by more than a 1.25 points on first contact, take it as a sign that there is significant weakness remaining to be spent over the near term. _______ UPDATE (3:08 p.m. EDT):  We stood pat, enduring a short-squeeze that was equivalent to a DJIA thrust of about 280 points.  The broad averages have since plummeted back to unchanged, and now, assuming any shorts who had survived until yesterday have been gutted, disemboweled and purged, we can perhaps look forward to a resumption of the righteous and redemptive weakness inaugurated by the flash crash two months ago.