the 1850 area might be the top in SP500 index.
the target would be 1790 area,
the stop loss would be 1855-1860 area on the daily chart .
but to make this trade a goal, the index should first break 1820 area to the downside.
1800 was rejected this morning, so the bias is to the downside for sure. But one can never know. Chart's could show one thing, and all Bernanke has to do is say No Taper this month and voila, all hell will break lose. Best would be to wait till the FOMC and see how things play out. There will always be retracement which is a more safer bet to enter than on impulse and emotions... Just my thoughts.