Even if you trade on fundamentals, it is a good idea to keep an eye on the charts to select your entry and exit points.
If we break down out of the short term trend (the hourly chart) then we would look to the SP daily and weekly charts to see where support might be found. Although things may seem obvious, they are rarely certain.
Keep in mind tomorrow is stock options expiry and the put buyers have been active. We are also going into a three day weekend in the States as Monday is a national holiday. There is significant worry about the Citi earnings report due out tomorrow.
Here is a snapshot of the SP500 emini futures at 10:30 AM.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero