Recognizing that the first two days of any month is cash infusion to the market from mutual funds seeking desperately a target (and even more so in January), the action of the last two days was not surprising. While I do remain very bullish on SPX for the entire 2018, I am expecting a low around the 15 of January ... we dont time the market but we are actively seeking points of better trade entries. I do NOT like the shaping of the Bollinger Bands .. as we are forming a bubble - we need to deflate a bit... Right now everybody is happy, everybody is optimistic, etc and things are great... sounds like we may get "what" we deserve sometime soon and it will take us by surprise...like always....nevertheless the low does not have to be a way-below point in the chart... it will be the low for the given cyclical period... thats all... still a good entry point for those with remaining dry powder...