The market is not yet fully reflects a solution on the Fiscal Cliff, so if there was not a decent one, stock indexes may fall, but if there was very good one, they may rocket.
For me the last upward wave is one of the the darkest corrective pattern in recent years (I have not yet found a reasonable Elliott wave count...) ;
from a few days, it seems to prevail the alternative scenario (top reversal wave w on December 19) , that would be a confirmation of a decisive and massive break-down of 1410-1412 area.
Have a great trading day...with care!!!