FXStreet reports that analysts at Credit Suisse continue to look for further corrective weakness for the S&P 500 Index and a fall back to 4306/01 and ideally 4238/30.

“We look for a clear break of near-term support at 4348 for a fall to 4318, then a retest of the recent low and 78.6% retracement of the July/September rally at 4306/01. 

“Our bias is for a break below 4306/01 in due course for a fall to 4262/58 next, then what we look to still ideally be better support at 4244/30 – the July low, May high and 23.6% retracement of the bull leg from last September. We would look for an attempt to find a floor here.”