S&P monthly trade remains in the uptrend, the weekly remains in the downtrend.
Election confusion?

the Daily trend crossed over to a bullish trend on Nov 2nd.
a trade back down into the bearish trade would setup a new move down to 1376.

But for now, the technicals are in the long trade from 1413 to the 1442 target.
a trade below the 1393 low will cancel the long trade.

Intraday, 60 min _ this reversal is worrisome,
and has produced a short trade signal with a target down to 1390 which breaks the 1393 lows.
this would run some stops and could produce a sell off to the 1364 target.

[Nov 7, 2012 Update]

the trade below 1393 has triggered those stops.
the next test is the Sep lows of 1387.

the current downside targets are 1376 and 1364

it will take a reversal above 1407 to stop this momentum down