Friday’s clumsily engineered pump-and-dump got past two of the prior peaks I’d flagged, but not the critical third, a look-to-the-lefter at 1135.75. This means that even if the futures should get second wind and push above 1135.75 within the next couple days, the rally will still have failed the strength test, since the kind of buying with the moxie to run till November would have had no trouble getting past 1135.75 on the first try.  The failure was by just 2.25 points, but when we are talking about impulse legs, the miss might as well have been by a mile.  Please note that the peak was initially given as 1133.50 but that adjustment will have no effect on my analysis.