SPX is approaching our first resistance at 2823.3 (78.6% Fibonacci retracement, horizontal pullback resistance, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 2704.2 (horizontal pullback support, 23.6% Fiboancci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.