Also near the swing low from May 4 at 2797.85
with less than an hour to go in the trading day, the S&P index continues to trade above and below its 200 hour moving average at 2808.19. The current prices trading at 2811.31. The low for the day reached 2799.13.That low stalled just ahead of the May 4 low at 2797.85.
With the 200 hour moving average and month low within shouting distance of each other, moving below each would tilt the bias more to the downside and should see further selling momentum.
The April 21 low at 2727.10 would be a target. Another target comes in at the 38.2% retracement of the move up from the March 23 load to the April 30 high. That level comes in at 2662.75
For now we are simply seeing the market consolidate around the support area. However like Humpty Dumpty, the prices sitting on a wall, and it could have great fall if the support levels are broken