It is at times like this, when I am unable, even, to imagine stocks going anywhere but (much) higher, that they usually turn. If they do so today, although I doubt the selloff will go far enough to alter the 1388.75 target given here earlier, it may suffice nonetheless to send traders home over the weekend with just a mote of doubt. In any case, the futures need only rally 10 points, surpassing the 1354.50 peak recorded on July 7, to set up a short-squeeze on Sunday. If they fail to do so, presumably only briefly, it will be because the bullish scenario has become too pat to work.
