This is the pattern I am watching most closely on the S&P for signs of further development:
The red price lines are conjectural, but if we can break 826, I think the odds are good we're heading down to about 780. This would make sense on so many levels, including Elliott Wave (and just good ol' support). Getting down to 780 would clear up so much technical muddiness right now; if you're got a technical analysis shrine, place an extra orange there today.
