The most recent SSEC rally started in a sideways and choppy manner. Eventually, it resolved to the upside impulsively. Most recent strengths was probably a minute wave ii(circle) correction to the paramount downside trend. The index rushed up to retest the pale green channel. A drop back into that channel is a failure. We expect that to happen within the next days. Consequently, price action gets dragged into a 4-year bear trend. Such events tend to trigger larger moves into the opposite direction of the failure. It counts as a third wave in the Elliott wave framework. \u2028\u2028All in all, the picture remains bearish. Another sharp leg of minor degree is likely to unfold to the downside. We remain bearish on the SSEC for the next few months.