Apr 6, 2016
On Monday the CFD/futures made higher high the cash index small double top and on Tuesday we have the move lower an impulse to support level - the blue line from the hourly chart which I have shown last week(this is the 10min chart with the same support level). It could be just a flat correction and another higher high(green) or expect a lower high and another leg lower(red) or we have a double correction a flat is finished X wave with lower high and another zig-zag lower. It is very difficult to count this move since February... it is guessing and as I wrote wait for lower high and move below support if you want to short. I do not expect huge pullback McClellan Oscillator is already at -40 and oscillators are nearing oversold levels.