Failed rally here could be a market topping action

No rally lasts forever unless it is the Zimbabwean style i.e. hyper-inflationary sort of rally. We can carry on looking for long entries but some effort should be put on to spot danger signs.

Current price action could be a consolidation for higher gain or topping action for correction/reversal.

• Higher gain could use current action as a base or support.
• Topping action could use current action as a resistance. If the index falls below green zone, it will look like a failed rally. Green zone will then become a resistance zone and the whole action looking like a Triple Top.

Traders interested could look up 'Wyckoff Market Cycle.

Just saying.