last weeks numbers are still intact.
Weekly – last weeks high is 898.25, 939 restarts the upmove. pressures are fully extended down.
there is a reverse head and shoulders pattern forming. a trade down to the 836 “neckline” will give support to a new up move.

Daily – S&P broke down thru the 884 short entry, which was also the “neckline” on the the much publisized daily head and shoulders pattern. The decline was stopped at an old upside target. down cycle pressures ended today and the price reversal today put us back above the neckline. If this 890 price level holds and trades above 899 (31.8% retracement of the recent up move) then it will be properly classed as a head and shoulders “failure” – with an attendant move up.

But for the moment, we are having a retracement up in a down move to 815; keep very tight stops as the time cycles and buy/sell pressures are turning up. 928 voids the down move.

Wed July 15th – have moved up out of the down channel. 938 will trigger the long entry.