Selective Comments on the S&P 500

What is the market saying to us near term?  Answer: The primary trend continues to be bullish (15-week EMA > 40-week EMA).  The 1240 on the S&P 500 is the next resistance zone, which is just 16 points away from today's close.  (See the red-horizontal line in the following chart.  The nearest support, green line, is at 1150.)  There you have it straight from the market's mouth.  Critical mass price zones to watch are 1150 and 1240.