If the current downside movement get into oversold conditions before reaching the last low (lots of action going on),
i assume it will go straigth back up to atleast 256.~ 7.14%.
Buy at 239.06, Sell at 255.99
(just an idea, trade at your own risk.)
Market is driven by all the People who dont know where to stand on low volume. My Personal view says that it'S more probably that we breakdown(but thats just an oppinion). My chart says "be neutral and wait for an breaktout" and thats what i will do.
Up if we can stay above 233 for the next 24 hours, probably with room up to 280.
This would mean that we leave the current daily downtrend and are back in a uptrend from smaller magnitude than the last. But still there is the bigger downtrend which cuts through and will break market down at 280.
After that all ...