A 'Death Cross' for the S+P will come tomorrow or Monday. The Nasdaq already had its cross 2 weeks ago, and the Russell about 3 weeks ago. On the other hand, the DJIA chart could take a month or so to reach a death cross.
The Death Cross is a lagging indicator, and can actually be a buy signal for swing trading if the chart is merely taking a breather/correction.
The most important thing to watch right now is the key support area from Feb-April. If that fails for the S+P then the computer algos will start dumping/shorting and it'll be bombs away. But first the market has to drop further and test that key level. So far only the Russell has done that (today), and it held for now.
For the Nasdaq the level to watch is 6800, the DJIA 23,500, and the S+P 2550-2575. The Oct/Nov lows can fail, but the Feb-April lows for the S+P have to hold.
