Come Down

You got me running
Going out of my mind
You got me thinking
That I'm wasting time
--Electric Light Orchestra

Didn't take long for the major indexes to pull back from their assaults on new highs. After its come down, the SPX now sits on a multi-month uptrend line. The pattern is also taking on a head-and-shoulder-ish look.

If things don't hold here, then the 50 day moving avg will quickly come into play.

Below that is, well, a lot of space...