All trends remain UP. The monthly bar shows a breakout at the 1461.75 level which is now support. The Weekly bar shows a breakout above a 2-week balance. The top of the weekly Balance is 1515. The first sign of change will be acceptance below this level. If price does find acceptance back within this 2-week balance the destination becomes the bottom of the balance which is 1490.25.
The S&P's traded above the all time high at 1519.50 (on an adjusted basis) and sold off. While Value was overlapping to higher, price settled back within the center of the range and relatively unchanged from yesterday. I see a 2 day balance going into tomorrow. Short term support is 1411. Building lower Value and find acceptance below 1411 stops the 1-time framing up on a daily basis and puts us back within the prior 2 week Balance. If this occurs we may have a excess high at 1522 which increases the odds of a correction.
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