Eric Stalee: Annndddd....the market is still in the downward channel it developed with that mini-waterfall. We're likely about to break support.

Native Texan: $SPX has spent nearly 1/4 of this morning in oversold territory, and so it remains as of now.

nasalpancho: dont go chasing waterfalls

Eric Stalee: Doesn't matter we just broke support in the futures. 1208/09 is about to be our new friend in SPX.

Eric Stalee: Oversold RSI should however provide high probability for a bounce at that level.

Eric Stalee: SmartADX is also saying this move down has significant momentum and strength. But this isn't the move down/crash everyone is waiting for.