I would like to see it pull back in either the 38.2% Fibonacci level (#1183), or the 50% Fibonacci level (#12000). I will be watching for rejections at those levels with a strong bearish bar on lower timeframe. Seeing that the market is more bearish, it's most likely that one of these levels will be an ideal for short positions. I will be eyeing psych level 11000 as my first target and hopefully trail in some orders to see how far it will fall. As I discussed in my previous idea, I expect the worst for the stock markets so bears are in this for a long haul.
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