Looking at the Satrix Fini, The recent bounce has merely served as a re-test of the "new resistance". If financials fail to break through this level, we could be in far a much larger leg down so be cautious about getting suckered into rallies. I still believe that we are in "short the bounces" mode. This set up is pretty simple to trade. If financials fail to get above that resistance you can go short with relative confidence. AND if they break through strongly and find support above this level you can expect a stronger move higher. As things stand I still think the short trade is more likely.