Here are hourly charts of the September S&P E-mini futures, the Spiders, the QQQQ's. The top chart above this post shows the daily count of the number of issues traded on the New York Stock Exchange which advance in price and the purple line on that chart is the five day moving average of that number. I last commented on the S&P's and Q's here and on the advancing issues indicator here.
I find two interesting bullish omens in the charts above. First of all the Q's are acting much better than the S&P's and are well above their June 7 low. Second the daily advancing issues numbers have made a sequence of steadily higher lows (thin black line) while the five day moving average is in the process of making a higher low at its oversold line.
I am willing to go out on a limb and say that the low I have been expecting is at hand. I think the Spiders and S&P will hold above the daytime low made on June 7 (visible on the charts). The next upswing should carry these markets to the upside targets you see on the charts above.