IMHO we will see a continuation of the down-trend until 1200-ish levels from where it will continue mostly sideways for quite some time (might be March or April before we see a clear direction in either direction
@COBRATOR, Hi to you to. and yes, the fib ext. should have been turned around after I had verified it it was actually valid. for the rest I don't state i'm good at this. it is my idea. why don't you tell me what could be improved and next time I could publish something which is up to your standard :)