$S&P;500; UPDATE

$S&P;500; had decent decline in yesterdays session, finally we got few answers which we were Looking for. Yesterday also was a key CYCLE date, which left us with greater clarity, specificlly the short term setup!
is very much clear now. In our last review here on 04,january, we did expected a rally towards 3,910-3,940 which we got. Infact it went all the way up till 4,015,
As long as any upside stays under DECEMBER highs, we are very much comfortable with our BEARISH outlook for short term. Above DECEMBER high of 4,101 things would get slightly different. But we do not give much probability for that as of Today.
Based on SQUARING PATTERN we possibly have peaked this rally at 4,015, a daily close below 3,888 would confirm that. A break below 3,850 would put S&P; back in extremely week position. Then break of DECEMBER low would just be a matter of few days.
and eventually it should break 3,751 this time. What that means? We shall discuss that in detail, as and when that breaks. Another thing which gives us more confidence is recent (INTER-MARKET DIVERSION) between DJI and NASDAQ.
This time the decline would be very IMPULSIVE so be very carefull. Once the PATTERN starts to play out, the decline would surprise even the biggest BEAR of street. Let’s see. OPEX would be Intresting!