Yesterday’s 600-point bounce created bullish impulse legs on the lesser intraday charts although — surprisingly — not on the hourly chart (see inset).  I see little value in putting out trading points ahead of whatever wildness obtains on Wednesday. However, a 50% retracement of the plunge from July 22’s peak would put the Dow at 11678, while a 61.8% retracement would imply 11931. We can use the lower number as a minimum upside objective for this dead-cat bounce, but either number can be shorted using camouflage.