It’s a rough day in equity land as the buzz around the new iPhone is drowned out by worries about Fed hikes, bad British accounting and (most notably) trouble in China.

The 16 point fall to 1993 is the worst day since the end of July but in the bigger picture the trend higher is still strong. So far the decline has been halted by the minor trendline since August and the 61.8% retracement of last week’s rally.

SP 500 daily chart

S&P 500 daily