At this point anything could happen on a given day — including, as I’ve mentioned in Today’s Action — a short-squeeze rally to new record highs. Under the circumstances, the least speculative play I can recommend at the moment is to bottom-fish the 1673.00 target shown. This one could play out before the opening bell, so night owls should try to stay alert. Camouflage will nearly always be the method of choice for gambits like this one, but in this case, if you choose, you can put up a straight bid for a single contract at 1673.25, stop 1672.25. You’ll be on your own if the order fills, but if the expected bounce from the target materializes, a trailing stop (or better yet, an impulse leg-based stop) should be deployed from 1676.25 on up. _______ UPDATE (9:59 a.m. EDT): Such delightful carnage as we have not seen in a long while has lopped 20 points off the futures so far today.  The cascade was interrrupted by a small bounce from exactly 1673.25, but the rally was fleeting and would have been of little value to scalpers. The intraday low has exceeded any target that could be extrapolated from the intraday charts, so we should probably just sit back and enjoy the selloff while it lasts.