The violent sell-off comes faster than I thought. On the S & P 500 chart, two major supports, the intraday gap on Aug. 21st and the interday gap between Aug. 20th and Aug. 21st (the two blue boxes) are broken in the same day. This is very bearish.
Looking downward, there seems no reliable support above 980 (the blue line).
Today Financial sector led the sell-off. On the XLF chart, there seems no reliable support above 13.7 (the blue line). Both suggest that the sell-off may continue for at least a short while.
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