I see this being wave 4 in a leading diagonal that should end in the 1180 area. At which time I'm looking for a cross back below 1165 on heavy volume heading to 1105 - 1080. Invalidates above 1180 on heavy volume. I define heavy volume as 2 - 3 x normal volume. Current position is Neutral, but I'm looking to get short on that 5th wave down.
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That 1165 region was like a magnet today. Volume low. No reason to make any action yet. Perhaps Tuesday afternoon we will see some volume and movement.
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Edit above: I said it "invalidates above 1180 on heavy volume. It should say 1080 on heavy volume.