My prior post noted market profile value support in the low SPX 3400 area. That zone was broken, opening the door for a move down to the next market profile value support at SPX 3358. This level is just above chart support and .618 retrace of the rally from 9/24/20.
The Elliott Wave structure for the SPX has cleared up and it appears an Elliott Wave - Double Zigzag. The second wave "C" could complete early in the SPX session on 10/28/20.
Watch the hourly RSI for a possible bullish divergence. If the SPX bottoms in the 3340 to 3360 area it could be another great opportunity to go long US stocks.