Numbers

If we can bounce today over 1318 we should target 1323.50. One the downside there are two close areas to watch if we fall below lows of days 1308.50 then 1306.50

So what Next

So we are getting a deep pullback here in the markets. Futures are down over 10 S&P points an hour before the open and we looking weak. I have been patient over the last few weeks when everyone thought we would spike up higher immediately but there were warning signs.
Right now it gets complicated for me, why? well here it is in short time and price projections are not matching here at all. Time projection are telling me we are here at a close to a cycle top but price has already started the decline BUT I must note that cycles also shows a cycle low in June/ July time frame so this pullback 'should' be buyable somewhere in the next week weeks. I feel much more confident when time and price are in concert with each other and they aren't here.
If I am to follow the sequence of what is going on my analysis would lead me to say we are going to get a much deeper pullback and it will shake out much of the weak longs.
Remember what I have been saying for the last 3-4 months this move up is on very light volume and this might be the first real sign of the crack.

Stay tuned