QUICK UPDATE: On the four hour S&P 500 (SPX), it has recorded the first of three price exhaustion clusters. The first being the TD Buy Setup @9 indicated by the up blue arrow. the others are TD Combo Buy, which is one count away from recording a ’13’, and TD Buy Countdown, which is two bars away form a ’13’. With today’s aggressive selling and the subsequent comeback above the weekly SPX TDST Support at 1850.61, the signs for a soft capitulation are in. Furthermore on the daily chart, the closing candlestick bar closed with a classic reversal bar, the Hammer. For some validation that the market slide is over, follow the daily SPX. Momentum is still strong on the downside, and will remain that way until a bullish price flip (closing higher than the close of the previous four bars) is recorded.