The E-Minis were up sharply in the first half of Wednesday’s session but gave it all back and then some by the close. The fact that this occurred without the futures having exceeded the cliff from which stocks fell on Monday is bearish and implies they will now fall to at least 2609.75. Beware of an interim rally overnight or Thursday morning, since it could be a bull trap. This would become even more likely if the March contract dips slightly beneath 2660.50, Wednesday’s intraday low. Many bulls would get shaken out, lightening whatever rally might follow. You should avoid getting enticed. Better yet, you should be prepared to short into a potentially fake show of strength.  Look for me in the chat room if you want guidance concerning this in real time.