You can bottom-fish the 1206.40 target with a stop-loss as tight as three ticks if the futures get there, but if you were to try this at the 1208.60 midpoint, ‘camouflage’ is advised. Of course, if the futures go no lower than 1208.60, any impulsive rally that produces a shallow pullback from just above 1210.80 (an ‘external’ peak clearly visible on the 5-minute chart) would offer an excellent opportunity to board a bull move with relatively little risk. ______ UPDATE (3:50 p.m. EST): Sellers crushed the minor supports noted above, implying that bear-market targets of a much larger order are still in play. My minimum downside objective is therefore 1150.800 (which can be bottom-fished cautiously) and thence 1028.50. Both targets were given here previously.
