SPX Daily Chart - 3 March 2011

     Yesterday's strong uptrending day was the second time that the combination of the medium (blue) moving average and wave 2/4 trendline have supported the market. This makes it a good time to review where we stand in relation to the daily chart's risk level. That level is at 1345.5 (dashed horizontal blue line) and is associated with the last TD Sell Setup recorded on February 11. A qualified break of that level would turn the daily chart back bullish.
     Bottom Line: All charts bullish except for the daily and so the Time frame Mix is at +75%. This value ranges from 0 to 100 and gives me a long-term cash allocation view of the equity markets.