So far, the selloff from June 1’s 1342.50 high is uncorrected after exceeding three prior lows on the daily chart. This is plenty bearish, but it would grow even moreso if the downtrend were to breach the St. Paddy’s Day low at 1237.50 without any intervening rallies of at least two days. Skidding action such as we saw yesterday seems incapable of generating a strong rally, so we should look to get short on any feint higher. Camouflage is the best way in, and, as of around 10:09 p.m. Monday EDT, the five-minute chart looked like the ticket for a very low-risk play.  Camouflage aside, a decisive push past a 1270.75 midpoint resistance could yield a shortable ‘D’ at 1276.75. _______ UPDATE (4:32 a.m. EDT):  It’s hard to know exactly what is being celebrated tonight, but DaBoyz have trapped bears in a nasty short-squeeze that so far has exceeded my 1267.75 target by two points.  The move is impulsive on the lesser charts, but it would take only a further 5 points, unpaused, for this spree to rack up two more external peaks, turning the trap into a boodbath. FYI, the hourly chart would turn decisively bullish today at 1290.25, setting the stage for a romp into week’s end.