S+P 500 30 Minute Chart,with the 3 Box Indicator, ( Chart Shown) reveals a "Double Bottom" Breakdown from SPX 3110
Price however did find very important support at SPX 3070, so the technical evidence is mixed short term.
30 Minute 3 Box Indicator Box shows the potential for a rally back to SPX 3110- 3115
The VIX peaked at 17.93 today, just below the important psychological "fear" induced level of 18 as the market rallied back from morning lows. A potential peak in volatility could thus already be in place.
This is a traders market,so barring any unforeseen surprise look for the bulls and bears, to trade support/ resistance back up to 3110, the origin of chart pattern breakdown.
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