Are We Downtrending?

Is this just a pullback or are we now in a new downtrend?  It is a fair question because there are two very divergent paths.  We either bottom this week and go back up sharply or we just mill around and keep milling around and then drop again.  I am not sure exactly which way it goes over the next two weeks, I am confused at this juncture.  But in either case, a return trip to 1250 seems inevitable.