The S&P closed below the 3266.00 major Gann square and swing point. This will remain the swing point for now. Provided they get right back above it, it will still need to close above 38.2% of the break at 3353.00 to say the break is over. As long as they stay below and close below 3266.00, the next target is the long term swing point of 38.2% back to the 3/23/20 low, this is 3048.00. Before this level there is a major Gann square at 3166.00 to look for support.