The market will give us a hint at the near term future direction very shortly. With the roll over of the 20 SMA
there could be farther downside action, but with support at the 50 SMA
we could see rejection of the current fall. If the market drops below the trend line
, expect a fall into the 1550 to 1560 area or more. If the market stays above the trend line
, A return to test the 1687 high.