The 1140.00 downside target given here yesterday remains viable, but another at 1128.40 should be considered if it fails. It would be corroborated by a bounce on Wednesday from the 1151.40 midpoint pivot shown. As always, the more precise the bounce from p, the more likely an exact hit at the D target — in this case 1128.40 — if p is breached. Alternatively, it wouldn’t take much for bulls to muster a counterattack. Specifically, a thrust exceeding 1174.40 (the point C high of the downtrending pattern) would put the futures on track for finishing the week on an upswing. _______ UPDATE (8:47 p.m. EDT): No change in my outlook. _______ UPDATE (March 12, 8:09 p.m. EDT): Still no change, notwithstanding yesterday’s gratuitous $16 hump, which topped, more or less untradably, at 3 a.m.
