Price action is in an important place, resting on an ascending created in mid-June. A break (with a retest and rejection of new resistance/former support is best) would iniate a short position targeting 1,100 over the next couple months.
We are likely to see the more riskier equities decline as the Fed "finishes" the taper in October, which will likely mix sentiment among traders. The Fed's vague, nonsensical policies will play an important role.
If support holds, a retraction could be seen to a secondary descending trend (dotted).