The futures have been down as much as 17 point tonight, but it could take another 15 points to exhaust sellers if a midpoint support at 1201.25 is fated to come into play. We’ll make that our minimum downside target for the near term, but you can also try bottom-fishing there with a camouflage strategy if you’re keen on optimizing your odds. The ‘d’ sibling of this support lies at 1163.75, so a breach on a closing basis would have quite negative implications for the near term.
