SPX Daily Chart - 18 April 2011

     The cash SP500 was unable to get above the 1324-26 area on Friday and has since sold off, reaching the long (green) moving average. If the bulls can not hold this support level then the next target down is TDST Support at 1279.20.
Bottom Line: The daily chart remains in a bearish mode (since Feb.22) with my allocation mix meter at a +50% reading. The chart would turn bullish with a qualified break of 1341.59.