Shifting to the October contract yields a compelling downside target at 1197.7o that can replace a projected range of 1192.70-1201.10 given here earlier for the August futures. Basis the December contract, this is equivalent to 1202.90.  As always, I’ll recommend bottom-fishing this Hidden Pivot support aggressively only to subscribers who have made money being short on the way down. A rebound in the meantime to p=1240.60 (basis the December) would set up an enticing if belated ‘mechanical’ short. We’d want to execute it via a ‘camouflage’ set-up to significantly reduce the initial, theoretical risk of nearly $1200 per contract. ______ UPDATE (August 7, 1:22 p.m. EDT): So we’re not caught unawares if enthusiastic buyers show up unexpectedly, I’ve set a chart alert at 1237.90, since a print there would turn the hourly chart impulsively bullish.