The market is cautiously bullish

12.17pm Update (Day-Trade)
Up through 1400 would be long and.
Down below 1397.30 would be short.

6.45am Update
I am watching the 30min chart, it seems that price was trying a break out of the upper line of a bull flag or a symmetrical triangle top.
The market is cautiously bullish and until I see a smash down deeper than 0.5%, I still expect buying the pullback would be win.
We can see a series of higher highs since the low at 1266.74 and the very important bearish trend-line connecting 1422.38 with 1414.48 had been broken to the upside. For the 5 consecutive days dips had been bough and bulls had been inching up.
Because Elliot Wave interprets price's overlap since 1266.74 as counter trend rally and the counting of a triple-zigzag may be ending, I will change my short-term bullish view when I see the 1391.74 is taken away by bears.
If 1391.74 is break down, then I expect 1381.00 hold. If 1381.00 is break down, I will try to short the market on bounce for the first target of 1366.24.

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