The pattern shown leaves little doubt about the downtrend’s immediate destination, a Hidden Pivot target at 1321.25.  We remain short a single contract which, if covered at ‘D’ , will produce a theoretical gain of about $7500. (You can review this trade in the archive to determine whether you’d have taken it. Click here for a free trial subscription.)  That’s what I’m advising, since the target looks compelling enough to warrant a speculative long.  Officially we’ll look to board with a 1321.50 bid, stop 1320.75, but if you’re up to it, start looking for a ‘camouflage’ buying opportunity from around 1323.00 on down.  Please note that my target is derived from the one-off ‘A’ at 1430.25 rather than the visually obvious one at 1431.75.  This implies that if the downtrend should breach 1321.25 by more than perhaps three ticks, the true bottom would come at 1319.75.  It too would be tradable — with a stop-loss as tight as four ticks.

Alternatively, and since we should always leave room, even, for the high  unlikely, an upthrust exceeding 1368.50 would put bulls back in charge, at least for the near-term.  Camouflageurs looking to nickel-and-dime the entry risk of a bull trade may find this possible on a shallow b-c pullback from within the range 1368.75-1370.25.  ________ UPDATE (Nov 19, 1:04 a.m. EST): I forgot to mention this above, but you should keep the short tied to an impulse-leg stop on the hourly chart.  That implies a print at 1388.25.  Otherwise, all other advice proffered here earlier continues to apply.