The futures are entering their third week of tedious consolidation after having created a potent bullish impulse leg of daily-chart degree. If there seems to be a contradiction in this, there is:  It is like revving a dragster to the redline, only to have it smoke rubber for a full minute.  My hunch is that the futures will feint lower this week to resolve the standoff, then rally moderately into early December, though probably not till year’s end. Most immediately, there are no juicy trading opportunities that I can discern, only the prospect of a herky-jerky move lower in the days ahead.  Night owls looking for a camouflage entry spot Sunday night will not have found much as of around 9 p.m., since price action thus far has added up to no more than meaningless noise. Nevertheless, the futures can be bottom-fished at 1180.25, stop 1178.75, provided the low is reached by no later than 1 .m. Eastern. ______ UPDATE (12:21 p.m.): The recommended trade was a non-starter, since the futures didn’t make it down to 1180.25 until 5:30 a.m. The decline reversed Sunday night’s overcooked short-squeeze, putting the futures on course to reach an 1175.75 downside target that was easily visible on the 5-minute chart (a=1200.50).  The fact that the target was overshot by 3.50 points in the opening hour suggests more weakness ahead, even though the futures are rallying at the moment.