Today SPX move to new post crash rally highs, then subsequent decline, could be the start of another short term correction and another chance to go long. Hourly Stochastic could continue to be a good guide to timing long entries.
Very short-term the intraday drop appears to be a completed Elliott five-wave pattern implying early 8/12/20 could have a rally. Additionally, S&P E-Mini Futures bottomed just above - market profile - volume support.
If the S&P E-Minis trade below 3318.00 it could be a bearish signal. I have recently began using market profile - volume base indicators and have found they are very reliable and accurate. I'll soon be giving more information about them in another venue.