SPX Daily Chart - 13 April 2011

     The cash S&P500 lingered at the medium moving average (blue line) and the 50% retracement level (of the distance from the recent high to TDST Support) yesterday. Nothing new to add from my last post.
     Bottom Line: The scenario that price has failed the retest of its February high must be respected. The daily chart remains in a bearish mode with the allocation mix at a +50% reading. The chart would turn bullish with a qualified break of 1341.59.