The market bounced as expected from oversold conditions but found resistance at previous support in the 2145 area. The bounce was a zig zag and the bearish set up for a strong wave down is in place. In fact shorting at these levels with 2145 as a stop looks tempting. But since support has not broken, it's probably best to continue to be cautious as the market is reaching a sink or swim moment.
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Short Term Trend = Bearish
Medium Term Trend = Bullish trend being challenged
Long Term Trend = Bullish