02.01.2012 -- Today did not change anything..

Today felt bullish and likely had some bears on the edge of their seat as to when or if a pullback at least may ever come.

But, when you look at it technically, no key levels were broke on close and nothing really changed from what I said yesterday.

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Key Levels

Upside -- 1325, 1340-1345

Downside -- 1310, 1282, 1257, 1232

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SPX Daily (12 month)

As you can see here, nothing really changed today. While having a small breakout intra-day, the market closed inside the bollinger bands and below resistance.

The Stochs and MACD did not budge, they are both still indicating a rollover is imminent.

Not much else to say here besides wait for it. I still believe a big down day is in the works here in the next few days.. maybe tomorrow, but more likley by Monday/Tuesday.

GL

CJ