A black swan day; a statistically unlikely event, down 1000 Dow points in one day.
that is roughly 100 S&P points. each point on the e-mini S&P futures contract is $50, so 100 points is a $5000 move per contract.
the value of the contract is the S&P price times the $50 – 1100 x $50= $55,000.
the performance bond required for each contract is slightly less than $6000.
1000 contracts, or $55,000,000, can be controlled with $6,000,000.
so, if a hedge fund (add the necessary zeros) gets on the wrong side of that trade and dumps them you can feel the multiplier effect thru S&P 500 stocks that the contracts represent.

Long term – the short entry price of 1147 was met confirming the short entry of 1190 on the daily.  the long term target is 1077 and 1044 was touched by the spike down yesterday. I would expect that price to be revisited.
long term trade and time pressures remain down.

Daily – time and trade pressures both down. next target is 1043.  1101 is a long entry price to start a retracement to 1147 and we have traded thru it this Friday am, but the trade and time pressures don’t support the entry – wait.