Possible Elliot Wave Setup I've been short indices recently but we're into major supports now. I have my stops trailed tight and some longs from a little under 5200.
We possibly have a bearish Elliot setup here. If so, we have an implied strong bull trap and then we have a good short setup.
Ideally the best play here is make a bit of money in the long and use it to bankroll the short attempt.
Will update if we fill short area. Long bias above 5180.