Big Picture

Here is a daily $INX chart. You can see our newest level of resistance at 875 and the support we bounced off of yesterday, the bottom of the channel and the 20 MA served as support. I think this is a minor setback for the bears. As you can see the 60 period Stochastics are overbought and we will chop around for a while before heading down to work off some of the overbought condition we are in now.