SP 500 Analysis after closing bell

• A negative day denoted by the Bearish engulfing on chart.
• The 50% retracement too acted as resistance for this index.
• It is just about holding on to the 200 day moving average.
• The 20 day moving average is below the 200 day moving average which is a negative setup.
• The hourly channel shown above has broken and closed below the trend line.