S&P 500 fell more than 1% yesterday before it manage to recover to a 0.7% loss.
Despite ADP reporting that there’s 179,000 jobs increased in April, it seems that the market has its own reservation of future growth.
On the Ichimoku Daily Chart for $SPX, we can see that yesterday closing has dipped below the Tenkan sen. Next support is near the Kijun sen at around 1332.
At this moment, there is no confirmation of a bearish move. However, the kumo support right below is thin. A drop below it will give confirmation of a bearish move.