Instead, resistance worked like it usually does with the SPX coming within .56 cents of the 23.8% Fib line on the daily chart. The whole day trended lower, and with the 3 day weekend approaching tomorrow may be a real wild card. It will be interesting to watch and see the sentiment going in to the weekend.
The primary trend remains down and recent attempts to even test the secondary downward trendline have met with selling prior to those levels. The SPX is still chopping in this 1270 - 1340 range, so until it solidly breaks to one side or another I remain neutral on the short term direction.
SPX Daily Chart:
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