TECHNICALS-SPX/DJIA

For what its worth, looking at the SPX/DJIA charts, substantial resistance is rapidly approaching as we approach the 50 SMA (CLICK ON CHART) on the SPX at/near 1,425 and the 50% retracement (1,576-1,270) also near 1,425.

The DJIA - about the same pattern with the 50 SMA at/near 12,975 and the 50% retracement (14,198-11,635) at near 12,920.

And with the VIX under the 10 SMA and heavy resistance not far away, its probably time to tighten up. Remember, this is an ugly downtrend and the 50 SMA is sloping DOWN. Until this resistance is busted - its an overall ugly downtrend.