S&P500 has fallen back but it's uptrend is still technically intact
Quote....SAN FRANCISCO (MarketWatch) —"....A rash of selling on Friday wiped out July gains for both the Dow Jones Industrial Average and the Nasdaq Composite Index as investors reacted to earnings-driven developments and resurfaced European concerns...."...20th July 2012....
The S&P closed on its lows at 1363 down 14 (-1.01%) The 1363 is the major support line...so the major support held...saved by the Bell ...yet again....
No technical damage done, the S&P500 short/medium term uptrend has been weakened but still intact
I have edited my previous posting chart by adding the S&R figures 1374 and 1363 to clarify the importance of Fridays Close.