From Larry McMillan: The market averages have broken down and broken support (except for the Dow). This is the first time that can be said since this past March.
We are looking at a strong possibility of a retest for the S&P 500 (SPX) of the 2400 level. If that should fail, it is possible that a much more serious bearish market could develop. But as long as the 2400 support level holds, the $SPX chart will remain bullish.