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SPY Bearish engulfing patter/fib pullback/bear pullback

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) Bearish Engulfing
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spy spx bearishengulfing
The volume has been light on the bear pullback since recent lows. Now we have a bearish engulfing pattern at a 61.8% confluence area. Similar patterns on other indices and many individual stocks. Would expect a test of recent lows.
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