Short term: looking for correction to 2200 area with reversal and one more higher high.
Mid-term: looking for the end of uptrend started on 03/2009 with reversal zone at 2430-2560.
Possible scenarios:
1. "Continuation" (less probable but less scary) - if the move from 03/2009 is the first wave in the up-trend of higher degree, expect correction to 1800 area with a reversal and continuation of the up-trend of higher degree.
2. "Reversal" (more probable, unfortunately) - if the move from 03/2009 is the last wave in the up-trend of higher degree, expect correction to the area of 03/2009 low with few stops along the way.
Mid-term: looking for the end of uptrend started on 03/2009 with reversal zone at 2430-2560.
Possible scenarios:
1. "Continuation" (less probable but less scary) - if the move from 03/2009 is the first wave in the up-trend of higher degree, expect correction to 1800 area with a reversal and continuation of the up-trend of higher degree.
2. "Reversal" (more probable, unfortunately) - if the move from 03/2009 is the last wave in the up-trend of higher degree, expect correction to the area of 03/2009 low with few stops along the way.