Bulls and bears duked it out Monday with no clear winner, but I give the latter a small edge for now because buyers were able to recoup only half of the 14-point drop that began the day.  We are in any event using a bigger-picture rally target that lies more than 100 points above, but it will probably have to wait. Of more immediate concern is whether we should place a ‘mechanical’ bid at the red line or instead wait for a more robust correction down to the green one. I’ll suggest the latter, but with the caveat that full-bore corrections that could make buying theoretically easier have not been a feature of the Trump Rally.  Whatever happens, we hold DIA puts to give us some leverage if sellers should unexpectedly grow a pair.