xjo el capo's iced vovo thursday, page-63

That analysis is heavy reading. It won't be for everyone and is focussed on pattern of trend and price (levels).

Looking back at how the index handled the 200 sma (think red line) last time it crossed below it takes us to the 2010 correction and you can see what happened after it managed to get past it on the 4th attempt. The current situation is that we have a daily swing low on 5 December above the 200 sma and we have now moved to a new high. Once that happened in 2010, the index didn't look back.