Bearish potential

FX:AUS200   S&P/ASX Index
23 0 1
could be a 12-12 sequence or simply a 5-wave             decline followed by sharp rally, although wave 2 seems bit oversized if comparing with wave 4

MACD & RSI were unable made new highs when price pushed for few higher highs
will short if price penetrate below the 5440 supportive zone
Comment: 15 mins trend seems promising so far
Comment: either pink or green labeling
Comment: bearish potential still valid
Comment: looks like another smaller degree 3rd wave is underway
Comment: i guess it's under wave iii of (iii) now
Comment: alternative count be wave i of (iii) in the making