This could work out a number of ways, but keep in mind $106 is still in play. Today's S2 pivot aligns nicely with the lower trend line support. This chart should be considered in tandem with my previous eWave chart from Friday (on IWM). We'll need to see a sustained break here as the bulls have spoiled more than one good bear signal the past several weeks. Note bear divergence in MACD dipping into the negative reading. Good luck everyone!