Option Investor
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SPX didn't make it down to its broken downtrend line from November, just under 830 tomorrow morning, so that remains potential support. After seeing the selling continue right into the close we could even be set up for an immediate bounce tomorrow (after the small capitulation move into today's close). If we do get a bounce tomorrow it's possible it will shoot back up to 860 to retest its broken uptrend line from March 28th (and hit a 62% retracement of today's drop). A break below 830 would likely see gap close near 825 from April 9th. We should be ready for a bounce back up but I think we've moved back into the mode where surprises will be to the downside.

SPX 60-min chart:
[Image 1]

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