#SPX - After seeing over a week of consolidation we finally broke out to the downside. Selling continuation fueled by bad CPI Data on Friday saw us quickly drop back to our 3900 Target. For this week if we can not hold above 3900 we can see continued downside. Under 3900 we should see 3877, 3853, 3817 areas next before a 3800 test. We will have Feds this week as our major catalyst on Wednesday. I wouldn't consider the upside until SPX can reclaim 3975.