Short term View:
The market made a nice move to the upside. While our forecasted breakout was supported by volume increase, the last two weeks overextended the markets with lower volume , the RSI is closing on overbought levels and the ATR is at low volatility , We expect the next week or two to be challenging with correction in mind, maybe a retest of the 303 levels.
Reduce risk and wait for another opportunity to enter as we forecast that this up leg is not over just yet.
Trade safely,
Alon