Updated SPY daily chart along with the previous chart.  SPY/SPX has now reached the bottom of resistance zone.  My primary scenario has us turning down anywhere within this zone.  Prices should be contained by the top of the zone to keep the bearish scenario intact.  The QQQ has exceeded the former T1 target level but still has resistance up to about the 66.25 level that I would like to see hold as well.  However, we are only at the 50% retracement level on the QQQ & still below the 61.8% level on the SPY so the Q’s could bounce some more before putting the bearish scenario in jeopardy.  However, there’s a good chance that the current post-opening highs may have been the last thrust before the next wave of selling begins.  At this point, I want to see the market close considerably lower by tomorrow, if not today, followed by a gap down on Monday for an all-in sell signal.  Otherwise, I will begin to reduce short exposure by covering short positions, taking longs or moving towards cash.