S&P 500 TA chart- yesterday's (September 29) historic drop

Yesterday's historic drop and today's bounce. Yesterday's candle dropped below my trendlines that have been in place since the beginning of this year. A good trendline is one that can hold through many months of stock movement. Today's candle moved the markets back into the TL. I would want to wait and watch at this moment. A lot depends on the passage of the bailout plan. If this trendline breaks to the downside...then really ..I mean really lookout below.