SPY weekly - case for retesting 40 week getting weak - 2/6/2016

SPY had a head-shoulder breakdown, retested the neckline and appeared to be failed. The chance of a rebound to 40 week MA is still there if pinks lines can hold, but will become MUCH weaker if otherwise. I actually think if we lost pink lines, SPY might fall all the way to $160 very rapidly.