The Wall Street Journal

Market’s Getting Close to a Tipping Point

The S&P 500 probed that level once already this morning, with the day’s low coming in at 1737. The more times it hits that level without a real bounce off it, the greater the odds become that it’s going to fall through it.

How far through it?

“Now that 1768 was broken on Monday,” John Kosar, director of research at Asbury Research, said, “the next support level in the S&P 500 is 7% off the highs at 1730.”