A short-squeeze rally in the opening hour failed by two ticks to exceed an ‘external’ peak from Tuesday, providing the evidence of gutlessness we needed to justify taking the rest of the day off.  It was all downhill from there, albeit not steeply enough to provide any special opportunities for shorts. The selling was labored, and when five hours of huffing and puffing was done, the intraday low and high were separated by just ten points.  Traders will find numerous downtrending abc’s to look at Wednesday night, but the only one that I half-like will engender a midpoint support at 1229.25 — too close to the intraday low to be worth much for trading purposes. For your information, its ‘d’ sibling lies at 1224.00.