Stock Markets Gapping Down…

As of 8:30 am SPX appears to have broken through hourly mid-Cycle support at 2037.79. The 50-day and Intermediate-term support are behind it. Short-term support at 2031.90 may temporarily delay the SPX decline, but if it opens beneath it, the final support may be hourly Cycle Bottom support at 1985.48.
There appears to be no organized resistance to this decline so far. USD/JPY is down to 117.56 this morning and falling. My report on the liquidity indexes make it clear that there may be no support from those resources, either.