SPY will not capture prior bull trend.

Should we reverse tomorrow after FOMC, we could get a 68 % retrace from the bottom (point B) to point C, which is the 78 % Fib and "in the cloud". Will not make it out of the cloud, and will fall back in a 50% retrace to point D, which is the 50% fib and around 441. So the bull trend will not be sustained and we should have a Gartley Reversal of the bull trend confirmed. Point D should be reached around mid February. Here it could reverse intermittently, or continue onward with a 1.38 % move toward 405, which is a long term target.