SPX Daily Chart - 16 March 2011

     TDST was confirmed broken yesterday as the SPX slid through all of the identified price targets to date. The expectation now is that a buy setup will have to form before we can make a meaningful move to the upside.
     For today the question is whether we will confirm the break of the targets labeled "3" (TD Trend Factor) and "4" (Long moving average). If these are confirmed broken the next targets are the orange box (1213-1220) and TD Trend Factor at at 1198.76.
     Bottom Line: Let's watch to see if targets 3 and 4 hold. The daily chart remains bearish with the Timeframe Mix at a +50% reading.