Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up.
Out of the 8 instruments in the global equity indices asset class, s&p 500 ended up ranking 2nd for the day in terms of price change relative to yesterday.
On a relative basis, s&p 500 was the worst performer out of all 8 of the assets in the global equity indices asset class today.
For additional context, note that price has gone down 18 out of the past 30 days.
I have a low target for the s&p 500 bottom at 1,996 which we last saw in feb 2016.