So we should see a rally back above 1200 which might last until the end of the year.
There's still a small chance that this is a big bull trap as we've seen them often during the 08 bear market. We could count the waves from the highs as a 1 2 [i] [ii]:
The next few days should help us to determine which count is underway. As long as the SPX doesn't break below 1100ish I think the low is in. If we do break it though then we could crash to below 1000 (!). However, as said earlier, I really think the low is in and we could see a nice rally from the current levels.
