The stock market experienced significant volatility over the past few days, with the S&P 500 (SPY) and Nasdaq 100 (QQQ) showing mixed performance. On September 10, the SPY appeared heavy due to the financial sector's (XLF) weakness, while the QQQ demonstrated relative strength. The VIX, a measure of market volatility, fluctuated around key levels of 19 and 20. By September 11, the market selloff intensified, with the SPY breaking below key support levels of $543 and $542, and the SPX trading below 5400. The SPY was down 3.9% month-to-date, which could mark the best September performance since 2019 if maintained. The market's inability to reclaim its averages suggests continued near-term bearishness. The SPY also tested the 8-MA, which often acts as resistance in bear trends. Additionally, the SPY traded below the VWAP since the early August bounce. Key upcoming events include the Producer Price Index (PPI) release and the Federal Open Market Committee (FOMC) meeting on September 16.