This round of selling should have ended last week and new high is likely coming soon. It looks like a classical te-testing of the breakout point.
I have a few questions: What were your stop-loss points should spx had dropped further than 1329? the trendline/50MA? What would make you turn intermiediate-term bearish, on spx?
What made you feel there would be dip ahead after spx broke 1344 high two weeks ago? market sense?