SP 500 20 July 2011 Looking for a break at around 1320 to confirm continuation of down trendSquaring out

SP 500 July 11, 2011

From a double bottom at 1260 on around 21 June it rallied to 1350 and has now broken the 4 x 1 gradient in price and time. It may now bounce from the 2 x 1 gradient at 1305 and head towards 1260 around 5 August. Time will tell