Looking at the charts, apparently the rebound is short lived. MACD 568 and Parabolic SAR shows that downside is more likely.
However i feel that as long as the index does not fall below 2395. There is a chance of a rebound.
BUT! if it does fall below 2395, its time to whack the put warrants!
* About the Fibonacci retracements, it usually takes a long time..i.e a few mths, so they serve as a guide to how high it might climb. These lines act as resistance/support lines, so they can also be used to aid in trending.