UPDATE (21-Dec-2013): SPX Downside? Actually new highs ~

The SPX closed the week @ 1775.04 > very close to the opening price on Friday.  Resistance above @ ~1780 have been approached twice in short timeframes.  General sense is there is likely to be more downside weakness with next support @ ~1750.  Watching and learning.

UPDATE December 21:  While some downside was experienced (to 1767.99), the SPX rebounded strongly, and closed on Friday @ 1819.56 after touching 1823.75 bolstered by taper and employment talk.  This far eclipses previous highs at 1813 a couple of weeks earlier.  If there is a pullback, 1810-1812 should act as support.  Price action has continued to be more than a little schizophrenic, even with the VIX hovering at its baseline @12-14 (recent peak 16 and closing outside BB in October @ 20+).  In more ways than one, this is uncharted territory.  The general sentiment across the globe and a variety of indicators are suggesting another bull run is in the making.  Watching and Learning.

SPX has potential downside > 1779.80 < > 1746.20 ~ WATCH ~ Streaming Realtime Stock Charts - http://t.co/thgwMkmxzH

— Peter Jalkotzy (@Tahoe58) December 11, 2013