S&P 500 LEVELS

First of all, SPX has broken out of the declining short term bear channel and is now in a bullish channel. On a 60min time frame, this bullish channel is though nothing more than a bear flag since the short term trend is still down (need to take out at least 1390 for any changes in the short term trend).

Levels for today is bullis above 1370 and bearish below 1370. Bearish targets 1360 and below not sure, perhaps 1340. Please note that we are very heavy on macro data today!