This is not a trading idea, though may be used to accompany other ideas as a general look at the market. Today we have suffer enough from the rising Dollar, but it seems now that the index is approaching a key level at which a reversal is highly likely. End of A-B-C zigzag
completely conforms to the parallel channel
. Also, any price action above the dotted red upper median parallel would mean the reaching out of the scope of the downward correction beginning from March 2015, which is unlikely, because of the weakness of the recent bull strength. Still one would be hasty to announce the end of this bloodshed in the positions against Dollar.