Yesterday’s flim-flam price action created a pattern that projects to as low as 1033.25 over the near-term, subject to a bounce from a midpoint support at 1052.00. This assumes another leg down as robust as the impulsive decline recorded on Friday, but I doubt sellers will be feeling so feisty after yesterday’s exhausting bout of mud-wrestling. My outlook is bearish nonetheless, but look for more hysterics and conniptions first before the futures turn lower, perhaps later in the day. ______ UPDATE (2:05 p.m. EDT): Bears are getting deservedly reamed today after failing to do much harm to the 1052.00 support identified above.  The actual low was 1050.75, and sellers seem to have abandoned their mission after the futures turned higher from just below the Hidden Pivot support.  The futures have traded as high as 1075.00, but they’ll need to surpass a look-to-the-left peak at 1076.00 from Friday to put bears out of commission for perhaps another day or two.