Current Breadth is now up to 5.28:1, this is getting VERY bearish, but it does need to hold thru the close, other-wise the dip buyers are entering the market, and we could get a large bounce.
Breadth is now accelerating to the upside, 4.47:1, the bears need to hold these levels at the close!!!
Current Breadth readings are now at 3.97:1, decliners, this sell-off is starting to strengthen, but the bears need to keep following thru for a chance that we are in fact rolling over the larger term trend.
At the open the SPX did break-up and made a headfake in the Bollinger band chart that was posted yesterday afternoon, then quickly reversed. Breadth currently is running at 3.85:1, this should give some hope to the bears that this sell-off does have some legs, but we really need to get up towards the 5:1 level, and start making some lower lows before getting too excited, however, we finally do have a nice impulsing style sell-off.