If this RSI were the Price, and we retraced all the way back up to the old breakdown support, wouldn't this be the place to short and look for the market to fall?
* not saying this is the top of the bounce, but certainly, something to consider.
* BTW we do have bearish divergence on the 15 min, in a bear market that is significant.
Doubt getting back to 260, expect retest of 250 before rejection. Forced liquidations on margin calls for short covering will drive it again as we saw Thurs & Fri. Calls will be all covered by 2PM on Wednesday 2 Jan.