Mr Market has actually managed to consolidate intra-day declines of almost 1%. With two hours left, could we even close at the lows of the day? A VIX spike into the 15s seems reasonable late today/early Tuesday.
So, the declines are holding, and the talk will indeed now swing to 'how much'?
The rising 50 day MA in the sp'1450s would be a natural level.
Fib charts offer somewhere in the 1470/55 area.
Dollar strength today..maybe another 1.5% or so...and USD will likely get stuck around 80.50.
Eyes to the VIX, looking for a spike into the close and/or early tomorrow. 15s..even 16.50 on an opening gap higher.