The MIB had a slightly positive session on Tuesday, but more importantly had triggered the buy area at the top of the Monday hammer. Because of this, we believe we are heading back towards the 16,000 level. With this in mind, we are willing to buy this futures market at this moment in time, but do recognize that the highs are getting lower in a general sense as well.
With this in mind, we look at this is simply a short-term trading opportunity, and not anything that we are willing to stay too long in. As for selling, if we managed to break down below the bottom of the Monday range, we would get aggressively short as this would be a failure of serious support.