The SPX chart is getting really interesting. The rising wedge is playing out just as they usually do... by going down once the line is broken. The issue with this pattern (and all patterns for that matter) is that they take time to work and often there are landmines between you and your target. My target for this pattern was the base of the wedge at 1330, and after yesterday's uber-bullish action it was beginning to look like the pattern might fail in the short term. What a difference a day makes.
The SPX is now sitting on it's 100MA (1360) on the daily which could easily act as strong support. If it doesn't then I'd look at 1350 (50% fib level) and then 1330 to support. A drop below 1330 and the market is in big trouble.
Note too that the SPX closed firmly below the intermediate downtrend line again which is pretty darn bearish until it can break above again.SPX Daily Chart: 
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