and then it is down to the floor! Playing small long position to next trendline then short with a tight stop.
1) USD : Although the market is technically up, the USD has been holding steady at the same level, i usually tend to stay away if i don't see a downtrend in the USD.
2) Europe : Italian Bond Yield are above 7 % again. Another bad sign for the markets. But lets see how the auction goes tomorrow.
3 ) Volume : low volume over the past 2 weeks or so.
Until i see changes in direction in the USD or Italian bond yields, i will stay bearish on the market. And your charts pretty much indicate very strong resistance a the current level. Will see.