The September e-mini S&P (ES) has us thoroughly confused after yesterday’s action as it moved above 1276 and negated our view of the 1159.50 downside target. Overnight the mini almost reached the 1291.75 pivot, but has fallen back after this morning’s GDP announcement, back near the 1276.25 level. Did we see the bottom? Not according to the daily chart, as MACD (momentum) tells us to expect another lower close. When we examine the weekly chart, a bottom is not confirmed until we get a weekly close above 1340. Support @ 1270, 1256.75, 1248.50 (pivot), 1235.25, 1222, 1209.75, 1204 and 1190. Resistance @ 1276.25, 1286.25, 1291.75 (pivot), 1298, 1307.50 and 1321.50.