We hit my 2228 target on Friday overshooting to a low of 2200 and a close of 2205. I'd expect some sort of bounce on Monday or Tuesday at least as high as 2228 to validate my target. It doesn't look good for the bulls here- they will need to quickly start a new 5 wave move up to new highs or face a possible intermediate term B wave top. See the following 2 year chart.

The big red candle shows the technical damage done up to this point. If the intermediate B top is in, we have an A start at 2473 and a B center at 1796 which implies a C target of 1119. See my long term thesis from last year and the more recent article at the end of December for more background information on this chart.