As you can see based on this chart, SPX has fallen anywhere from 2 to 6 percent every time it touches its top trend line. The "further down" we get in this channel, the bigger drops we have. This only means logically that this next drop should be the biggest shown on this chart. Spx has yet to have a candle close above the top trend line. If we do see it hold then a new high would be imminent. I see this to have a nice drop back down to around the bottom trend line, to the 3975 zone.