We were in and out of the futures during Wednesday morning’s tutorial session, looking for a tradable low that never came. When the dust had settled, however, sellers had failed to drive this vehicle beneath last Friday’s 1274.25 low. My hunch is that they’ll succeed today, given the way the futures easily broke minor supports yesterday.  In any event, the selloff would need to hit 1249.25 this week — about 30 points below current levels — to generate a bearish impulse leg on the daily chart.  This is by no means a longshot bet, and I would therefore encourage night owls to take every good opportunity that comes along to get short.  As of 8:14 p.m. ET, there was a minor ‘d’ rally target at 1282.25 on the three minute chart that could be shorted with a 1.00-point stop-loss. _______ UPDATE: 1281.50 was as high as the little sonofabitch got before selling off 14 points to an intraday low Thursday at 1267.50.   Shorts who negelected to cover on weakness got hung out to dry when the obligatory end-of-day short squeeze brought the futures back to unchanged.