There is no need to say anything more complex than this: the graph below isn't bullish. It shows what might have been a wonderful breakout for the bulls end up in failure.
To my eyes, a move toward 880 on the S&P is virtually a foregone conclusion. When we do get to 880, the bulls should be wringing their hooves over whether that level will hold. If it does, we'll just chop around between 880 and 920. If it doesn't hold, we're heading to 800.
