On the daily Chart borrowed S&P chart from Richard Lehman My assumption is the S&P will go to the bottom of this channel, (green line). This is assuming the bears are Now in control. <img src=http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=1&dy=10&i=p05603780216&a=56638359&r=818>