Alternatively we may remain in the channel for a period of time and if we don't go lower than the channel and the Stoch RSI starts its upswing on the daily chart then I say we are going bullish and 12800 is the bottom of the lows.
For now I am staying out of the market and remaining in cash till I am certain which way this is heading
Unfortunately, I exposed myself to the market impulsively and left the computer for a bit and returned to a disaster. Decided to ride it out rather than panic sell. This hasn't been fun. Should have known better and listened to my own advice to stay out of the market!! Trend Analysis tells us the bigger picture on this larger timeframes, we just need to heed its warnings!