A nearly $6 leap on Sunday evening’s opening bar has been squandered in the last five hours, and now the futures have dropped back to unchanged, trading for around 1509.10. There are no opportunities that I’d rate as optimal, but a so-so pattern yielding the 1505.80 target shown in the chart could be used to bottom-fish with a stop-loss as tight as five ticks. You’ll be on your own if this one fills. ______ UPDATE (11:03 a.m. EDT): We did nothing, since a price spike at around 2:30 a.m. exceeded the point ‘C’ of our pattern, negating the buying opportunity. Shortly after 11 a.m., trendless volatility was picking up, and the future appeared to be headed, with great difficulty, toward a minor rally target at 1515.10
