Market Pullback

Well, the head and shoulder pattern did not fail us this time.  We did start a retraction and are heading towards a test of the neckline around 9950 - 9850 or so (ballpark).  The big question is whether we will get support at the neckline (I don't think it will be an easy break to the downside).  If the market does get support at the neckline, we could see another rally.  We are also testing the lower boundary of the bollinger bands.  If the market does not find support at the neckline and breaks to the downside, we could easily head back to the 7800 level for the next major support level.   But that is to be analyzed later.  At this point, I am still out of the market and watching and trying to determine where we are headed (obviously I am bearish at the moment).