S&P 500 Tumble Pressures Important Support as Liquidity Makes for Sloppy Conditions

Risk off was in effect through Thursday trade and there was plenty of blame being foisted on rate forecasts and recession fears. Yet, the volatility is more likely a by-product of the rapidly fading liquidity heading into the holiday weekend. What does that mean for the S&P 500 as it pressures the midpoint of its past three month range?