Given the press up through the channel, I am watching closely at 173.86 for how it handles this Fib level but a short squeeze up to 197 is quite possible. If it does reach that, I will enter short there but given the market news - I will let is show signs of topping before stepping in front of this one.
it is experience from watching these types of chart patterns - doesn't mean I am right all the time which is why I am watching for a sign. 168 is the edge currently and the bulls are still holding on. Aligns beautifully with the S&P and Nikkei 225 IMO - watch for the break for the opportunity in the other.