The Index has finally put in a down day, but its a long way from changing a trend. The good news is that this is the first red daily bar since the 7 green bars that preceded it. We won't know for sure how low this goes, but at least a correction is in need. The SPX prices have come back down below the angle represented by the green dotted line. Not only that, it has also broke the intra day 20ma. So at least on an intra-day basis we have some more down trend to follow. The 60min chart below illustrates the next levels of support and the 200 and 75 60min MA. Notice also that the 60min stochastics has not reached the bottom or have crossed up, so a down move is still in play.
Main-Trend: UP (Unconfirmed)