The Q’s barely broke the 50% support level today which was around 54.50. The Diamonds broke the 23.6% 117.70. SPY and IWM are holding support at the 38.2% fibs. The SPY is approaching the diagonal support line. So I expect when it gets to 119.70 level it will pause. What it does next will either move to the 126.00 level if it bounces or drop to 117.50 level if it breaks the diagonal support. Either of these scenarios has us in a bear market. I need to study more how the bonds that Bernanky is releasing Wednesday will impact the markets. Their seems to be some chatter about it among bloggers.