Two successive daily closes reclaiming the 23.6% level indicates that, for the moment, bulls very much hold sway in this corrective wave. It looked for all money we'd lose that yesterday. Didn't materialize. Strong surge just before close ensured another daily close above 17048.
In this 4-hour chart, we notice dwindling and a failure swing and potential cross. As far as strength of signals goes, / failure swings are as weighty as they come. Only reservation, I tend to not have high confidence in lower timeframes. If this happens on a , abandon all shorts pronto. Still, you need to be either brave or stupid to be holding a short right now.