All down

Targets support   1040 gone,1029 gone, next 992, 980 and some much lower EW targets
Went to total sell on open Tuesday this should not turn back too quickly.

My momentum indicators are getting OS and it's possible we test a low Friday depending on market action. Not shown.

Circuit Breakers for 2nd 1/2 of 2010 NYSE

http://www.nyse.com/press/circuit_breakers.html

ALERT a CIT DN could be forming

Today's action was the pits! (Monday)
A close under 1064 SPX will turn all cycles to down on Tuesday 29th
Futures are at 1063.80 at 1:15 am so not a lot of wiggle room.
This is only a warning not advise.

Jerry

Cricital area MOB

Short term (days) sell was on 6-24 open
Med   term (wks)  Buy still holding my cit signal
Long term  (mth)  sell

If we break 1048 Monday then wave (5) targets and down CIT should set up and fast.
That seems to easy and look for a run to 1140/1150 completing a H&S pattern
We have both EOM & EOQ strength, (window dressing).
Seasonals are bullish for the 1st week in July.
Like to think 1073 fann area will hold. chart 2 days ago, below.
Have a 15 degree hit on the 8th of July that could be the summer high.