We have been here before..

Looking at the SPX one might think we have hit a healthy pullback in the market. Appears that it wants to settle somewhere between the 1080 to 1085 area. There is a nice trend line supporting the swing lows over the past six months and the consolidation through out December gives a strong support base for the present. So where to from here, who knows? All we do know is where we have been , where we are and what to look for next and that would be the bounce or the breach of the two support areas shown. Trade it as you see it anything else is merely speculation.