We can see how finally the price drop when it broke the rising wedge, that was channeling the prices until March'12
The price try to make another up move, but after what we see is a double top witch a trend revearsal pattern very important to follow when it takes places.
The DJ move around 1030 points from April highs (13330-12300), after try to have some kind of rebound with very little force.
When this happend the next downtrend move will also be fast. This is the second move, that will take the price in my opinion to 11.670-11.500 (very close to the 61.8 rectracment of all the up trend since september last year).
Maybe the market will decide to take some stop around the 12000 and 11850 (50% fibo retractment). At 11850, it will be a good idea to close part of our "shorts", although i think the price could make other lows its important to close positions when the price move in our favour.
In my opinion this level of 11.500 we should close all the "shorts". Depends in how we achive that level we could think in a good rebound.
In the market you should never go only with one "road map", but several road maps and very dynamic as fast as the market moves.
"Take care of your losses and the market will take care of your profits"
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