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Monday puke observations

The Market Ear Picture

SPX - the waterfall formation

SPX is closing in on the big 3800 level. We have not closed this low since March 2021. Note RSI is becoming very oversold here and let's not forget we touched 4144 as day highs on Thursday. The move lower has been brutal. SPX continues trading inside the trend channel, and there is more room to the downside, but 3800 is an important level to watch for possible short term supports.