The rectangle on SSEC

It has been a while since I looked at SSEC. My ast check was that it should be heading south, it did but not as south as I expected it to be.


Fig 1 SSEC Daily Chart

A look at the chart today, I see that SSEC has been congesting for quite a while. the congestion leads to the formation of a rectangle. The measurement of the pattern means an objective of 2,840.

On the other hand, if we are to see this as a double top reversal, which is possible. It should be heading for 2,420.

So what would it be? Both indicators are at the bottom and trending back up with the chart near the lower envelop of the rectangle. My guess is that SSEC is going to bounce tomorrow.