We have Fed Speech covering QE tapering this Wednesday. We are likely to repeat the sell off that we saw on June 11th. Retesting 1600 once again.
Will be healthy for S&P to pull back down to 1500-1550 before moving higher.
Apple has been setting lower highs this whole year and a test of $420 and then $400 seems inevitable.
The sell off today posted a lower high compared to the prior 50 dma bounce. Continued pressure at the 1600 level will force a break soon.