As labelled on the chart, there appears to be a weakening of the structure of a bullish rebellion that has occurred over the last few days. I expect further oscillation and more weakening based on the current evidence. Price could well return to the 12000 mark with a weak structure. Personally I'm short with a reasonably wide stop-loss. This is not a recommendation.
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On the weekly time frame the position is bullish. How many people can afford to play a weekly time frame - and withstand a loss of some 5000 points (a 46% loss from current position. I don't know anyone like that. Note that the Aroon is showing significant weakening of the bullish position.
The daily time frame is for the bears (see Aroon down). I'd prefer to suffer an 8% hit on the Daily time frame to a 45% hit on the weekly.
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Looking into the microstructure there is a developing microtrend developing and in resonance with the bearish daily trend south.
See also: Microtrends and risk aversion goo.gl/WeR3rX
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A reversal of the 1H microtrend is now more probable as price has moved into the investor zone of the GMMA on the 4H time frame (after 23 hours of the high cross on the Aroon on the 1H). Yes - there are competing trends in all charts. The main important issues are entry-point, exit-point and stop-loss on your chosen time frame.