The S&P 500 Closed the Trading Day Down 43 Points

S&P 500 closed the trading day down 43 points, but it was the first legitimate ugly weeks since the Christmas holidays. It'll be really interesting to see whether or not this is just a short term buy on dip. This 4000 level was an important pivot for me in the fib zone slide just slightly below the 4000. If this market starts on a sustained basis, closing below 4000, and we start heading back to December and January lows, let's say down around 3800. Suddenly we're talking some price action deterioration that could actually spur on a deeper sell cycle.