It is probable that it is the time for a retracement after a long way up.
The index has been on the uptrend for sometime. Since the price reversed and crossed the 30-period MA on its way down it signals that an end of the uptrend has taken place.
That does not mean however the start of a retracement to the 61.8% just yet. The price needs to break down important support at near 15150.