June 10, 2011: 1296 resistance seems solid. If SPX cannot break it out today, 1277.42 low can be visited.
Taking into account of poor US economic data and cautious sentiment as well as statistics. I feel that the bears are still dominate the market and 1277.42 could be revisited in 2 trading days.
Guidelines: If 1277.42 act as a support, I have to cover shorts.
If I see a weak bound of SPX from 1277.42, then it is broken down (unable to hold as a support), I will short more or cover later.
If 1296 is broken out and hold as a support for 2 days, then I have to cut lost all my shorts and go long.
Bears may win the down side
stockmarketwinner 