SPX Falls 50 Points

Quick update:

Bears attacked early and often today. The bottom line is: that with today’s move we can start to consider this the second test of the August low as we have discussed over the last month. We still think we will eventually have a closer test and possibly break that low. So currently the way we are playing this is: if we open lower tomorrow, we will be looking to buy for a very quick trade. If we open higher (which has slightly greater chances), we will be looking to get short either tomorrow or over the next few days for a break below today’s low.

We have made a quick update to the chart. 186 could be the 1st target with an eventual break of today’s low.