Here is a daily chart of 24 hour e-mini trading. The market broke Friday's 1095 low this morning on high volume. I interpret this action as a kickoff for a move down to the green oval near 1040. That target is at the confluence of the lower channel line (green dash) and a midpoint support level (purple dotted line). Moreover, if the drop from Friday's high at 1119 carries the market down as far as the last reaction did it would end at 1046 (purple rectangles).
So far I see no reason for thinking this break is anything other than a normal interruption of a continuing up trend. So I still think we shall see the e-minis trading near 1170 sometime during the next couple of months.