@serhans, The cycle has been extreme in both price and time. We are more oversold than in Dec 2016 on weekly charts, sentiment is raging bear. I still have the 1293 as a target. I have several major cycles pointing up, but one minor is still pointing down. I expect the reversal within short amount of time. The minor can be due around 20th of Aug, but likelihood of further moves to the downside are in my opinion more and more limited.