Dip buyers unite or giant sh*t strom?

FX:SPX500   S&P 500 Index
96 0
Been using/building on this chart since September and it has done a great job of providing guidance. One of two scenarios could play out here :

1. Dip buyers come in full force and we get back to ~2050 where the 200sma and downtrend line is with the potential for more is it breaks out.
2. Break, hold and close below 1976 which should get us to 1910 pretty swiftly.

I labeled the chart "neutral" because I think both scenarios are in play until we have a confirmation of either.
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