Bears have tipped their hand Wednesday night with a snapback rally that failed at the midpoint pivot of the pattern shown. The implication is that the futures are now going to fall to at least 1812.75, perhaps in mere hours. It is probably too late for night owls to get short at the midpoint unless there’s a feint back to it, but the D target can be bottom-fished via camouflage or with a limit bid and a stop-loss as tight as 1.00 point. ______ UPDATE (12:01 p.m. EST): The futures went no lower than 1817.25. Thereafter, the likely best opportunity of the day came via a buy signal at 1824.00 (15-minute, A=1819.25 at 8:30 a.m., B=1831.25). No one in the chat room reported taking the trade, but I have supplied provisional guidance nonetheless in posts logged around 10:35 a.m..
