Entered over bought territory might gain another 1%

Not meaningless, after what has been an on-and-off start to the new year with additional holidays and less time to soak it all in, the breakthrough could be short-lived. Every indicator is starting to agree with this. Still, even before the last candle confirmed this set-up, I would be hesitant to enter a short until further confirmation is given. It's a matter of WHEN rather than IF anymore.