Gold is one of the big movers this morning, down close to 24 Dollars with a LOD of $1361.60. Gold needs to break down below $1329 to make a lower low from the previous one made on 11/16.
I added the 3-4 combo in blue because this sell-off has characteristics of a corrective wave with lots of overlapping structures. The STO is already in extreme over-bought territory and the RSI is not far behind, this suggests that the SPX is ready to bounce and head higher for a couple of days. I am keeping the target for the 5th wave in the 1250-55 range, the longer this 4th wave takes to playout, the higher that level becomes.