The 1312.75 target disseminated here and in the chat room yesterday morning caught a fleeting low and a whoopee cushion bounce, but the action was too violent for a timer to get much of a ride. Since all downtrending patterns seem to be “maxing out,” I’ll recommend bottom-fishing at 1309.25, the lowest correction target that can be inferred from the five-minute chart (see inset).  A two-tick (!) stop-loss would be appropriate._______ UPDATE (1:24 pa.m. EST): The trade was stopped out for a loss of two or perhaps three ticks ($25 or $37.50) hinting of underlying weakness yet to play out.  Adding to a bearish picture is that the futures have found support in a too-obvious place:  Tuesday’s structural low at 1306.00.