SPX has rallied to the midpoint of the previously broken symmetrical triangle pattern, the underside of a significant broken trendline, and traversed 78.6% of November's high to low. Another point of interest is the shooting star candlestick printed on Friday; the bears had a strong close. We're currently at a critical juncture of resistance. If the bears want to take us on a trip south, they'll need to take out support at ~1240 (12/1 low). I'd like to add that this may just be a consolidation period in the works; however, the Euro is forecasting something different...
The Euro further strengthens the bearish case. I find this chart most interesting.
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