The broken of the upper line of the Continuation Wedge (Bearish) also invalidates an immediate call for a drop.
Maintain my call for a mid-term correction with a possible duration 4-8 weeks and a probable target 1312 . This call subjected to nullification if bulls win 1422.38.
The short term is very bullish and we might see bulls win the 1397.60 before next possible attempt to challenge the 1407.00.
I said Tuesday "the rebound if any will be limited by zone 1390.00 - 1397.60". It was to understand the call in the day contexts and it was proved perfect when the index spent more than half day staying above 1390.00. The broken of the upper line of the Continuation Wedge (Bearish) also invalidates an immediate call for a drop.
Bulls look ambitious and I think a modest pullback Wednesday if any would be a buying chance.
I prefer a pullback that respects zone 1383.00 - 1386.00.