The SPX has formed a lower low on on the daily (similar to the DOW), and now it's just a waiting game to see if the SPX and DOW drag down the NDX and RUT or if it's the other way around and the SPX and DOW get some footing to follow the NDX and RUT to new highs.
Only time will tell.
The topping tails on the daily charts of the DOW, SPX and RUT look a little ominous going into tomorrow, but I'm still a bit bullish even though we're at some short term resistance. These are the spots in the recent past where the market continues to chart up despite resistance levels. I'll be prepared for both.
SPX Daily Chart:
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