Retracements into .382 fib

The market made a 3 wave abc wave pattern retracement into .382 fib level the range 1297.75 high to 1284.00 low. This is a possible wave 4 type corrective pattern and looking for higher highs this morning.

A good short sell entry would be selling a test of the 1297.75 high. If nothing else, it would be a good scalp opportunity for 1 point, given the range expansion that we have had. One can trade multiples, and hold 1 for the "homerun" just in case the 1297.75 is indeed the high for this range.

So these are the 2 possible trade possibilities for this morning. I will be looking for the first pattern opportunity off the 8min chart.