The 1108.25 target touted here yesterday remains valid, and I’d suggest shorting it in any way that suits your style. The hesitation yesterday at the midpoint resistance implies that it will work, but the usual caveats apply.  Virtually all serious rallies begin with laughable ones like the one that has unfolded over the past week. However, this one would become pseudo-legitimate if it hits 1143.00, since that would create a bullish impulse leg of daily-chart degree. Keep in mind that in order to qualify as such, the rally would need to be unbroken between peaks #1 and #2 (as shown in the accompanying chart).