Equities more oversold than at June lows...

SPX - approaching big levels

We outlined our most bearish market logic on Aug 16 in our post "Are we there yet? Yeah...." Since then the SPX has fallen from 4300 to currently trade around 3930. Needless to say, that trade has played out well and is not attractive at these levels.

3900 is a very big support for the SPX, followed by the 3800 and then the June lows. Resistance is at 4k, and then the 4100. We are now well below the 200 day and have closed below the 50 day three days in a row. Time to easy some of the bearish logic soon from a short term trading view....