3900 - The key level for the bulls & the bears on the SPX .
Off the June lows we tested 3900 several times before going higher.
Similar scenario unfolding at 3900 on the decline.
We broke it last night but just closed above it at 3901.
Also broke the rising trendline off the June lows for the first time.
IMHO a break of 3900 could see a test of the June lows.
P.S 3900 is also the 61.8 retracement for the swing (June low to the Aug high).
XJO - Bear Posts only (Factors which might cause the markets to fall), page-4354
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