We had a great long setup that failed miserably. Although volume was low the price action looked impulsive and we might be heading towards a retest of lows. I am playing it cautious until I see more evidence but the close at lows was pretty bearish.
I am guessing a retest or two of lows then bounce or perhaps a break to new lows. at this point I will be surprised if the market steps up and prevents a retest as we aren't far away from 181 in SPY