Bearish divergence playing out

Hate to say this but the bearish divergence is playing out and we are likely to see a drop to 47500-600 area.. how it reacts from there will determine our course. If it breaks down from there next support could be daily, but a new local low can not be ruled out. I don't like it but I think the bearish scenario has a higher probability of playing out for the next couple days. I see a downward channel forming and until we break that I think I will remain bearish.