Here's the updated 5 min chart I posted earlier (see the earlier post here) which suggested we might see some bullish divergence between the indicators and price on a new low in price today:
SPX 5 min:
And here's the 15 min chart (I've left the comments as they were for the moment):
SPX 15 min:
The divergences show that the technical conditions for at least a short term bottom exist.
It doesn't, however mean that price can't keep falling - it will do if bearishness remains strong. The divergences are just warnings to stay alert for price action that might signal that a low of some sort is in. Its important to await such action because divergences can be eliminated if price continues to move down.
