Of course, that doesn't mean short immediately. By all appearances, it would seem we might have finished an impulse down, so an a-b-c bounce might be in order. That bounce however should provide a reasonable short opportunity since we know that another impulse down should follow which will take out today's lows.
I believe that bounce could be vicious, maybe as high as to back-test the broken blue TL - close to 10300. That would be a bear gift, in my opinion.
Today's vicious decline was tough on a lot of traders which kept trying to pick a bottom. The dax tools at mcm were amazing today. Top ticked the 10.000 mark as an important and several cycles were warning about impulsing down. The tools never showed a bounce attempt until all the way at 9626. Those signals were worth almost 400 points today. Just amazing! As always feel free to check the site out: mcm-ct.com. And if you have any questions about the tools and analysis feel free to email me at email@example.com..
Good luck out there!