The SPX broke down below the short-term Fib fan line that has acted as support for the last few weeks, a close beneath this line moves support down to the 1250 level. Indicators on this daily chart have rolled over and are now on a sell.
7:28, The SPX is at a critical juncture right now, testing the lower black channel line, a break here could accelerate the selling, and if it holds, the 4th wave count stays on the table. The sell-off so far has lacked a decent impulsive wave down, and the breadth numbers that should be present for a larger sell-off. Breadth currently is running at 2.68:1, decliners, I would like to see this number up to at least 5:1 for a decent sell-off.