Bernanke, State of the Union, GDP, bank taxes ….

all is revealed in the numbers.

long term –
next upside target is 1162. the selling pressure is becoming evident in the long term charts but remain in the uptrade until 950 is breached. the shorter long term cycle has a short entry at 1078 with a 976 target.

Daily –
in the downtrade. the 1077 target was reached today. 1058 is the next target down, but have reached the end of the selling pressures. a retracement seems likely. need a trade thru 1109 to start a new uptrade.
Many oversold indications especially in the financial sector.