As publicly noted in weekly post, S&P showed the anticipated weakness right on now time as expected by cycles. Our subscribers already had the timing of decline in advance. So far the decline has been 52 points from recent high of 2969 to today's low of 2917 in futures. VIX jumped more than 6%.
Both hourly and 4-hourly charts are oversold with divergence condition in hourly chart. So there could be some bounce.
Hourly and 4-Hourly trend level moves to <SP_HT> and <SP_4HT>. These resistance levels need to hold for continued downside risk from down cycle bottoming at <SP_Day_Hour>.