SPX weekly chart shows ongoing vacillation and lack of consensus.
http://stockmarket618.files.wordpress.com/2012/07/2012-07-21_spx_wk2.png
The impending directional move is getting closer and it should be down.
I previously thought the overbought USDX signalled more equity rally this year but looks like I’m wrong as bearish weekly & monthly SPX etc charts are increasingly influential and dominate all else.