S&P 500 Index did well in today's opening trades, kicked off around yesterday's close and looked very promising in the first hour of trades; however, the condition changed in the second hour after failing to hold above 3109.10 a critical resistance line highlighted in my previous update. The Index is currently down more than -2% and could fall further to 2992.00 and 2930.56 erasing yesterdays gains if it fails to remain above 3042.20.
