Our minimum downside objective for the near term is still 1179.40, the Hidden Pivot midpoint of a pattern that projects as low as 1140.10.  There is a second bearish pattern that we are watching as well with an 1186.90 midpoint (already breached, albeit only slightly) and an 1155.00 ‘D’ target. Alternatively, a print at 1226.30 is needed today or tomorrow to suggest that bulls are once again taking charge.