Our preferred scenario remains firmly in place. We continue to look for more downside pressure as the ending diagonal completed with the test of 148.30 and we are looking for a return to the origin of the ending diagonal at 132.66.
Short-term, we would like to see a break below minor support at 142.56 as confirmation that the 5-wave rally from 114.42 indeed completed with the test of 148.30 and a corrective decline to 132.66 is unfolding.
