SPX Daily Chart - 1 March 2011

     Over the last few sessions the area of interest was just over 1325 on the cash SP500 where the short (red) moving average lined up with the 61.8% Fib retracement. The break of that area was'nt qualified and the index has retreated back to the medium (blue) moving average and wave 2/4 trendline (in orange). This same combination held the market on February 24. Will it do so again? If not, TDST Support is objective #2 at about the 1286 level. Remember that 1310.87 will be important at Friday's close.
     Bottom Line: All charts bullish except for the daily and so the Timeframe Mix is at +75%. This value ranges from 0 to 100 and gives me a long-term cash allocation view of the equity markets.