The price drop on Dec. 8, 2011 could be the mark of a trend change.

12:33 PM Update
Bull seems very strong. There is no substantial pullback till now. Europe markets looks encouraging. If 125.40/50 can be hold, the green of US-Markets may be seen one more in next Monday.

SPY daily may show that the monthly bearish trend-line remains the cap of the mini bullish trend or rebound that developed from Oct. 4 till Dec. 7, 2011.

My Game Setting for 12/9/2011
My view is that the bullish short term trend might have changed. Therefore, I will consider any bounce as a chance to short. However I may also try a bounce at an important support.
Bears: Short till 123.20 met. Short again at a bounce.
Aggressive Bulls: Buy if 123.20 hold well
Scenario and Setting is illustrated in the SPY 30min chart:

Reviewing Game Setting for Thursday 12/08/1011
I maintain to favor Bulls 60% against Bears 40% for this week.
Bulls: Buy on dips/pullback was proved profitable last 3 days and it may be continued today. => Bad call. Bought @125.60 cut loss @125.00 
Bears: Be cautious in front of Euro Summit.
Accumulated Score from 11/23/2011: 3.30 - 0.60 = 2.70

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