The SPX did close above the 50 week MA, which closed at 1099.09, with resistance at 1121.95 from the 20 week MA, which twice now has held. Support on the downside 1081.81 from the 50 day MA.
Breadth for the day was weak, only finishing the day at 1.12:1, advancers, this should change quickly now with both the bullish and bearish options both ready to start a 3rd wave in their respective direction.
The SPX did make another lower low today, but still needs to take out 1087.88 to make an important lower low and confirm the trend has changed to bearish. 1065.25 would be the next low that would provide support.
The Trend Finder still had three sell signals going, and five buys, resulting in a 25% bullish reading at the close. It will not take much right now for two of those sell signals to go back to buy as both are very close to a "zero" reading.
9:15, Just to keep the bears honest, it does not hurt to see both sides with a bullish perspective. It is possible we are working on a 2nd wave down, of a 1-2, 1-2 up (gray). A break below 1056.88 would invalidate this count!!!!
A third sell signal has been triggered for the Trend Finder. Now 25% bullish.