The S&P 500 as a risk measure. One of the preferred instruments so to speak. From a Technical POV. 2130 was the all time high and since then it's been pretty much lower high, lower low and with this week's candle. Can we say a new lower low will be formed? From the fundamental standpoint, the Dollar has taken a beating from the JPY and the CHF indicating that safe haven are preferred more probably to the Fed's stand on future rate hikes with the market's pricing next FOMC decision at 30% probability and thus so the USD doesn't look appealing to investors. With the Fed still insisting on data driven decisions, I see the S&P plunging further.