S&P Sees Strong Support Near 3700

while several short-term indicators are pointing toward further weakness, the fact that S&P continues basing sideway using the June breakout point as support as it works off excessive optimism rather than moving lower indicating an internal strength.  Support is strong near 3700. This level is too big and too important. It won’t go down without a fight.  So it should not be surprised to see further consolidations in the coming days