1175, continues to be the breaking point for a bullish count, and will also change the trend to down, but for now I am sticking with the neutral stance until the larger term wave counts make more sense.
Breadth for the day ended at 1.26:1, decliners, a flat day by the time it was over. Also of note, the SPX did break out of the bearish Fib fans I posted earlier.
9:01, The SPX finally made a short-term lower low this morning, 1175, still stands as a major trend changer. Now we wait to find out if this sell-off has legs, and accelerates to the downside, or if it stalls, and becomes a three wave move down, or corrective wave.
7:45, On a longer term chart, the bullish fib fans are holding, final support on these fans are around the 1175 level, as is trend line support from the lows of 666.
7:28, There is enough data now to put a set of bearish fans on the short-term chart, however, I have a bad feeling that those fans are not going to hold for very long, and the bullish fans are going to prevail. The bears needed follow through today, from Friday's move, and so far there has been none.