everything could have just changed
if we see downside in semiconductors and rotation between sectors tha is slower and more masured leading to slower losses in indices, and the countertrend movement breaks out into a larger rebound i would call this the beginning of a broader market recovery. the inverse is that we traverse slightly lower, and extend backwardation with resistance around estimate (we are now below) and not seeing support till lower envelope. basically the trend is threatening to reverse in short and in long term, and if sss signal stays green index could be a buy. top of channel is not out of the question.
#broadermarketreversal