Sell Signal Triggered at 1320 in SP500

The Feb close is 1326. The SP500 failed to sustain a trade above last month's close today. The 21 day average is at 1320 and the lower volatility support band on the point and figure chart is at 1319 this morning. The SP500 just fell through the lower volatility band at 1320 on the point and figure chart.

The short term risks appear to be increasing to the downside. The upper volatility band sloping sideways at 1329-1332 will provide short term resistance in the first half of this week.