after fridays events it isclear it has come overstretched however bottom for now is 1240 i expect this is a abc correction within b now upto 1260 and bottom at 1240 short term
now into wave 5 higher cycle should be a bull week in main
overall bullish currently in retracement at shallow 0.786 level which is what this is based upon. Bear in mind this could retrace to 50 percent or beyond no than 100 percent by ew guidlines 1241 likely low but upto inho 1224....
more dip to come followed by swing ending upwards of 1260-1287 (very basic)as cant show full chart here
rsi possible direction according to ew possible movement ....
Correlation with gold is strong this is at grand cycle correction 2 going into wave 3 lesser wave 1 after correction of either a bc or suspect abcde......