Hi everybody.

Here's what I'm seeing on these time charts today.

Short version:

I think the Global markets will get hit again with a (weakish) bearish influence line in the next 2 days that will be enough to push it to the June 1-4 low.

The S&P will try to resist but will succumb a day or two later.

Long version:

The S&P Global 1200 ($SSGL in my charting program) is reacting as expected to the red (although weak) time line.

The S&P ($SPX) is resisting.

I've added a chart the shows the $SPX resists downtrends on the $SSGL, but then eventually succumbs (see area 1 as compared to area 2).  I'm interpreting the charts as the same thing is going to occur.

You'll notice I've added a new red line on the $SSGL chart.  I was trying to verify the corresponding line on $SPX, but don't have data for $SSGL that goes back to 7/5/2010, so I used Global Dow, and that's where the line ends up.  It calls for bearish influence on the global scene tomorrow or the next day (or less probably the day after the line).

Good luck everybody!