SPX Daily Chart

The SPX had a wild 29 point range today before settling on the 100% fib level at 1555. It took out yesterday's low, but held above Tuesdays low showing that it was a mild pullback when compared to the Nasdaq. The spinning top that formed on the daily at support today tells us that we need to wait for tomorrows movement to give us a hint as to the next direction. Watch for a breach of todays high or low to show us that direction.

SPX Daily Chart