Date: March 2014: content.screencast.com/use.../SPX31314.jpg

$SPX hourly chart 

Good day today. After breaking out of the rising wedge structure earlier this week, SPX saw a retrace back up to the 1875 level, and then resumed it's fall. Today SPX tested the expanding wedge bottom trendline, and closed right on it. For the large positioned I entered earlier this week, I have moved stops down to the 1865 level, which will ensure a positive trade. First short term target I have is around the 1785 level. This would be slightly more than a 61.8 retrace of the wedge. See you there!