Here's an update of the 60 min chart (last posted here):
SPX 60 min:
I could be wrong, but it seems to be suggesting the risk for more downside - see the notes on the chart. Maybe we get nearer to the lower line of the orange fork before a more significant rally. Of course, the picture is always changing, so its worth keeping an eye on these 60 min indicators in case they start turning around.
