I forgot one very important observation. Why I think the SPX may...

I forgot one very important observation. Why I think the SPX may find support at the pink line, apart from the obvious, is that the pink line is more or less currently at the 55 day sma. As we all know the 55 is typical support in a bull market and o'head resistance in a bear. whether or not this is a baby bull as Laundry suggests remains to be seen.....but after such a bullish run it is hard to imagine we would not have at least one decent bounce off the 55 before resuming any downtrend...that is if the bear still exists.