The S&P 500 is a the lows of the day, down 33 points or 0.75%. The index has just dipped below yesterday’s bottom of 4464, which is where the index reversed. The break through the low isn’t a good sign and selling could accelerate here.
SPX hourly
Alternatively, we could have a bit of a false break if it can make a stand right here.
Fundamentally, worries about inflation are creeping in with the US CPI report on the docket tomorrow and oil prices today touching a 9-month high.