SPX (Weekly Chart)

Looks bullish still on a long-term basis........as long as SPX holds 2 major bullish trendlines then the mkt. still looks overall bullish......the 1st one being the intermediate trendline around 1940-1950 levels and the 2nd one being the long-term bullish trendline from the start of the 09' macro bull rally.......if it breaks the intermediate trendline to the downside then it is a risk-off approach until a big reversal day happens in the markets.........if it breaks the long-term bullish trendline then all risk-off mode continues and add to shorts or hedges as we may be in the start of a 10-20% correction.......as always watch volume for confirmation