Bears appear to have grown weary trying to break down the 1201.90 midpoint support shown. It remains valid nonetheless — and potentially useful as a place to try bottom-fishing with a very tight stop-loss. Its decisive breach would portend more weakness to as low as 1189.40 over the near term. Alternatively, buyers would need to pop this vehicle above 1219.60 to brighten the short-term bullish case within a bear market now well into its fourth year.
