SPY has continued down in a steady decline. The yellow line was drawn on Dec 5th. Notice how SPY has declined at the same angle of descent as the line was drawn in advance. I chose that angle, or rate of descent, because it is half the rate as the two-week decline this summer into the August 9th low.
I suspect that the market may see a bounce soon into Dec 21st. From that date into Dec 23rd looks weak again. Dec 27th looks more positive and then Dec 28th, 29th, and 30th all look very negative in the cycle analysis system.
I suspect that the market flattens off somewhat and manages a few bounces around Christmas. The expectation is for an acceleration down Dec 28th to Dec 30th to maintain the same rate of descent overall.
NDX has continued to lead down, and is currently trading at approximately 1160 SPX on a performance comparison basis since October.
Once the yellow line breaks, look for an acceleration down.