Here is an hourly chart showing day session e-mini trading. Today's break took me by surprise - the drop below yesterday's midpoint at 1054.50 was the signal that something was wrong with today's bullish outlook.
Since yesterday's high at 1064 was a lower top I have to expect that the market will drop visibly below Wednesday's low at 1037.25. So far today we have hit 1033 but I am guessing that the e-minis will drop further to 1025 or so before turning around (green oval). Already midpoint support at 1044 and support at the last top at 1038 have been broken decisively. By itself this is not enough to force me off of my "up to 1120" scenario for the next few weeks. But any significant activity below the 1008 level would mean that the market will drop even lower, to 960 or so. The last low on the way up was at 1012 on October 12. The June-July break was 91 points and a drop from 1099 of that size would take the market down to 1008.
I want to emphasize that I still think this break is a good buying opportunity and that my "line in the sand" will not be breeched.