We can see from this chart that the banking issues from 2009 still influence this chart, it is very much at a crossroads here, however it is very clear where the bull and bear cases are, a break above or below the yellow lines and this is in to one of the cases....the direction is not clear yet. Bulls will be happy that the pull back has held at the 0.618 Fib level so far. This level is important to watch if it can hold now.