having seen this set up before, now for the 3rd time, have no reason to think it will not repeat. However, MACD showing signs of moderating this dip to less than the previous dips along the path to the long term trend line, which if broken on the SPY, would mean (of course kidding but maybe not) the end of our financial world as we know it, or at least BUY THE DIPS party, which many people were not invited to.