Well, it can't go up everyday.

If you look at the daily volume, you will see that this is shaping up to be the 3rd daily green candle in a row, each with descending volume. This is not bullish. On the Fib retracement levels, we have resistance at 2855 and 2925.

We would have to clear both of these before getting even remotely non-bearish.

Houbi will need increasing volume at some point on its way up. Otherwise we will consolidate again and the longer we do that the more suspectible to selling off we will be. There is more China news on the horizon.

Now its just a matter of how the market reacts to it.