$SPX Chart Analysis for 081206

The daily chart indicates weakness and possible more downside movement to re-test the current lows at the 1219 to 1224 level. Currently below the 200sma and the 89sma.

The weekly chart looks like it is caught in a trading range. The Indicator says that it could go either way.

The monthly chart indicates weakness and toppiness. Just waiting for the sell signal to trigger for verification of more downside to come.