Analysis:
Structure is still bearish and BTFD zone which worked so nicely last months was heavily breached. We have a new key resistance. That means there is still a chance of further decline – I drew one more possible BTFD zone in 4220(ish) – its the one below which there might be a panic on the market. Options for overnight suggest neutral/bullish open. If price can get to upper bearish resistance, like 4405 i think decline is over.
Strategy Status:
Trend following: short 4408 (Sept. 17)
Pattern: key resistance
Other Markets (updated around 18-19 NY time)
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