An 1194.50 target disseminated yesterday via an e-mail bulletin and a tout update remains my minimum downside objective at the moment.  It would be refreshing to think this is the beginning of the collapse that will usher in a new dawn for the world’s financial markets, but we’ll just have to wait and see how sellers behave once they’ve succeeded in driving this vehicle to its immediate destiny at 1194.50.  If the support is easily shattered, expect more carnage to follow. Even more immediate is the 1209.75 target of the minor pattern shown. Night owls can use this number to get short off the 5-minute chart using a pattern as subtle as the one shown. However, if you do any bottom-fishing at the supports identified above, I’d suggest using camouflage, since the selloff has quite a lot of enthusiasm driving it. Incidentally, we caught a small uptrend yesterday against the trend, since that is the way the futures were moving when we had them underneath the magnifying glass of Wednesday’s tutorial session. The trade was captured on tape in real time and is accessible via a recording that will be posted shortly on the home page. _______ UPDATE (8:43 a..m. EST): Another pointless reversal, amounting to more pointless volatility in the relentless, historically unprecedented effusion of pointlessness that has come to rule the global financial system. Signs point most immediately to 1258.50, but there is no real strength here, only pointlessness, since three attempts over three hours have yet to push this whirligig above yesterday’s 1246.50 ‘external’ peak. There’s also a midpoint resistance at 1246.25 — representing double trouble — so DaBoyz evidently are waiting for opening-minutes, headless-chicken hysteria to accomplish what mere short-covering apparently could not.   One more note: The November 16-17 Webinar will be held much earlier in the day in order to accommodate students from Europe who would otherwise be tuned in session in the middle of the night. Both segments of the two-day class will begin at 5 p.m. London time. Click here if you’d like further details, along with a $50 discount.