It looks like the index is gaining momentum for the downside...
The index could be forming a head and shoulder to head to point E before resuming its upward trajectory.
The pair could be forming a head & shoulders for a reversal to the upside to form a flat formation before continuing down.
Scenario 2: It may retest point E before resuming it's upward trajectory.
Scenario 1: Mostly likely an expanding flat formation for further upside.
It looks like price action may retest point D to form another bullish bat formation.
The pair may be in a 4th elliot wave. It may catapult upwards when it reaches the point E
Trendline broken with Bearish Butterfly, hope it continues going down...