S&P 500

Alot will depend on how the market reacts to the Greek situation this weekend, but as of Friday's close it looks like we may finally get a correction.  First, price ran into resistance at a solid fib cluster.  Second, this cluster got confirmation from MACD and RSI indicators.  Third, we got some bearish candlestick patterns form up in the zone (harami, engulfing).  Finally, we have a potential H&S top forming.  The strong bullish rally of the past couple months made the high tough to pinpoint.  The market needed to shake off the bullish energy by grinding sideways the past couple weeks.  We did get a chance to get short on the harami pattern last week.  All depends on how we react to the Greek news, but if we continue to sell off then I see a potential support zone shaping up around 1143-1149.