The first day the stock market was open in 2014 saw the markets sell, with the S&P 500 hitting a low of 1,827.74.
That range became key to the markets and the future direction. Any close on the S&P 500 below 1,827.74 would be
viewed as near term, while any close above 1,849. 44 would be looked at as near term.
Today, the S&P 500 is currently sitting below that key low at 1,825.32. Watch the closing print today.
Should it close below, look for more selling in the next week. The first major support on the S&P 500 is 1,775.00.