Selling Climax after Accumulation

Eventually the Selling Climax I was anticipating, arrived on Friday, as we had a large sell off during the early hours, before a large rally later in the day, into the close. This low at 1180, should not be broken, not for a while yet anyway. 

We also saw the largest 30 min volume bar for over a month, with a very large CBO bar breaking above an intraday supply zone.  This is confirmation of the Selling Climax

The large volume charts shows the Selling Climax really well. They work perfectly with the RPM to show the exhaustion of the down move.  The target in the short term is the supply level around 1270 - 1280 zone.  We should get a large down move from there and more accumulation on the way down.

Longer upside target would be around 1530, before any more large scale sell off.

So for the time being, we should look to buy the large dips in price.

Here are some charts: