S&P 500 looks weak on the chart with the prior candle breaking below the channel support at around 4450. RSI has formed a lower high and looking to breakdown further. MACD confirmed down trend with a divergence growing.
Support at the bottom channel works out to be around 4300. Traditionally, the September and October months are weak months for the market and it seems that technical does coincide with fundamentals. Market in China is closed for Monday and Tuesday for the Mid-autumn festival. Their first trading day of the week will come this wednesday. The impact of Evergrande possible failure is causing market sentiments to weaken. Hong Kong fell nearly 1,000 points today as a result of that and China A50 futures was down 4% intraday.