Inside technicals and chart patterns by 
The downtrend that has initiated from the breakdown has formed 1) a four to six o’clock mark down cycle and 2) an opportunity to set up swing shorts within a down channel.
The downtrend is best capitalized on shorter term, intraday charts right now as the longer term trend (daily chart) is sideways. Follow-through in this environment of uncertainty is difficult to come by on longer term intraday (180 or 240 minte) charts.
Look for short triggers between 4435 and 4450 on the 30 minute chart. The downtrend will be intact on the this time frame until the cycle flattens (keep an eye on the Wave!) or price find their way north of 4500.