The SPX appears to be forming an Elliott wave Horizontal Triangle.
There are a cluster of four Fibonacci coordinates in the area of 2131 - 2133.
This represents powerful support.
A break blow 2129 will open the door to test the bottom made on 9/9/16 at 2119.12.
A break below 2119.12 could be very bearish.
The most likely scenario is that the SPX bottoms in the first trading hour of 9/21/16 at 2131-2133 zone and then rally for the new few weeks to a new all-time high.
There are a cluster of four Fibonacci coordinates in the area of 2131 - 2133.
This represents powerful support.
A break blow 2129 will open the door to test the bottom made on 9/9/16 at 2119.12.
A break below 2119.12 could be very bearish.
The most likely scenario is that the SPX bottoms in the first trading hour of 9/21/16 at 2131-2133 zone and then rally for the new few weeks to a new all-time high.