The SPX 5 min chart below highlights the quick move this morning to the top of the trading range only to fail and break support (bottom trading range). Interesting enough we had a test of broken support which was a good opportunity to go short. Also notice the speed of the drop once support is broken. If you are short then you know you first target is 1810 and you stop should be the top of the trading range risking about 7-8 points with a potential gain of 18-19 points. Not a bad risk reward.
Thanks for reading.