SPX Outside day covering previous two days, closing near the low, rejected at the 50ma, closing below the 20ma, as the bulls surrendered their strong position very easily, no conviction, lackluster buying action, which looks quite bearish. Next support is the 200ma at 2612 and then the strong support zone at 2580.
However, bears also capitulated just as easily at the 200ma and 2580 levels so it's not a certainty that it will be an easy ride down.
We could be sloshing around the 2580 to 2680 zone for another few weeks until there is decisive break out - up or down.