there is a long term short entry at 1290 with a target of 1213.
this a corrective move.  the longer term upside targets of 1422 and 1556 are still in place.
the long cycle time pressures are down til mid May 2011 and the trade pressure are down.
>>>>>>>>>>>>>>

S&P in the daily down move from the 1319 short entry to 1253.
have bounced off some trendlines, but now looking at a second leg down to the 1253 target.

time pressures are down for the next few days and then up.
need a trade up thru 1336 to restart a move up.