Second bias-down target met.

[pay]The noon hour’s relentless slide touched the ESu 1241’00 bias-down target. A Flag pattern has formed while bouncing nearly 4 points from there. A bounce from lower low s at 1239’50 before 2:30 could be the beginning of a bigger bounce – potentially back to, and through last week’s highs.

Not that anything accumulative will have happened in the interim, but it would be very inappropriate for sellers to attempt a lower low then. Otherwise, pretty much all paths point down, especially if 1245’00 isn’t recovered through any relevant timing window.

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