The $SPX is sitting right at the 200 day MA, see below:
__
Will the bulls be able to hold the line here? Judging from this morning’s activity, I would say no. The Vix is elevated, oil is breaking down, and even the metals (Gold & Silver) are trading higher.
There are many bear flag patterns developing throughout stocks, with many areas of support right underneath. We are at a do or die spot for stocks. Place your bets accordingly.