The dramatic run up that we have seen in the S&P 500 may be coming to an end. The retracement back over the 840 level should provide sufficient resistance to reverse this market to the downside.
Now here is the caveat, our long-term indicator, the monthly "Trade Triangle" remains negative on this 
market. While the direction of our weekly timing "Trade Triangle" is on the sidelines and neutral. This has created a conflict, meaning that conservative traders should remain on the sidelines to protect capital.
I am looking for an area to once again get short this market and trade with the major trend in our favor.
My downside target zone is for an eventual move down to the 500 level. Only if we take out highs as I mention in the 
video, then this analysis will change. Continue reading "What now for the S&P500?"
