Looks like the SPX is starting to re-test the LT trend lines. It'll be interesting to see if we start coming back down to more "middle of the pack" growth, or if tries to take-off back to ATHs. Personally I think this is more of a "fakeout", and we'll see a bigger drop coming. In past corrections/recessions, there's always two drops. We had the first one, now a minor correction back to the mean trendlines, before another drop.
My personal opinion, we could go either way. Breaking the LT trend could be a very, very bullish sign.