7:38, The moment of truth is coming here soon, is this the blue 2nd wave down, or the start of a much larger correction. The SPX has now dropped down to its first point of support, the green median line. If this fails next in line would be the gray median line, this is also close to where the 38% retracement lays. The SPX would have to break all the way down to the 1175 level to start making serious lower lows, which would confirm a trend change.
***Also of note, the Trendfinder has Silver and Gold moving to a sell, and the Dollar to a buy.