Still bullish, and there’s no change in the forecast (although it is only strict adherence to my coldly mechanical forecasting system that allows me to make my peace with such a preposterous outlook). I doubt it would survive a Moody’s downgrade of Spain, however — which implies that Iberia is all but guaranteed a week or two of breathing time pending a rally in the E-Mini S&Ps to at least 1388.75.  Europe could fall any day now, financially speaking, but perhaps it would be historically more appropriate for this to happen in August, a month of destiny?  In any event, night owls should look for a possible buying opportunity near the 1335.75 midpoint of the pattern show, assuming it survives Sunday’s opening.  Please note, however, that the futures would be signaling more slippage to at least 1328.75 if the midpoint gives way. _______ UPDATE (1:23 a.m. EDT):  The Sunday Night Sleazeballs evidently think widows, pensioners and John Q. Public will fall for the news media’s scary drumbeat about there being “no deal” in place ahead of Monday’s opening. The E-Minis are falling hard tonight, for sure, but I read it as a shakedown engineered by ripoff artists intent on buying at fire-sale prices once they’ve succeeded in exhausting sellers.  Anyway, we’ll be able to test this theory with two Hidden Pivot supports not far below: at 1320.75, a midpoint; and at its ‘d’ sibling, 1310.50. You’ll find these coordinates on the 15-minute chart, where A=1342.50 on July 22 at 4:15 p.m. _______ FURTHER UPDATE (11:13 a.m. EDT):  The futures have rallied sharply after making an overnight low that was just 1.25 points from the midpoint noted above.  Although they have yet to recover to “unchanged,” it would appear the worst of the engineered selling is over.