I'm a little short on time tonight, so I'll just get right to it.
The S&P looks like it could go down more, but we have the 200dma to contend with at 1256;
It's still in a downtrend and is not severely oversold, the stochs, MACD and RSI all appear to be on a sell, but definitely in oversold territory. The S&P chart leaves me feeling that we touch the 200 for sure at least.
Now.. the bullish sectors I could find.
The Russel has put in a higher low and a higher high. It looks like it could have a trend change here. That said, a quick downdraft and a new low would erase that. So it must be watched carefully tomorrow. If tomorrow is red, key will be whether the Russel falls apart and puts in a new low or hangs tough in another red day;
The other bullish chart is the XLF.. yeah.. the XLF. No really.. the XLF. It's in the same situation as the Russel. If we are red tomorrow, the XLF action will also be key. Does it hang tough or lose it's composure and put in a new low.
That's pretty much the story right here. The next move is going to be violent. If tomorrow is red, I would specifically watch the Russel and XLF, they could be a tell for the next move. If we are green tomorrow, I would expect rippers from the Russel and XLF, if we're green and those 2 are just not pulling their weight, it would be a sign we are about to head south fast.
GL
CJ
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