It looks like the $SPX is getting a bit Toppy here:

Today's candlestick is a perfectly formed Doji, and that can signal one of two things...It can signal a potential reversal to the downside, or a moment of indecision in an uptrend...Yesterday it closed a fraction above the 200 Moving Average (which should be a level of Resistance along with the Resistance levels set in the same area from June 16-21), and today it closed a fraction below it...If the upper Bollinger Band was flat or pointing down, this call for a pullback would be that much easier, but since it is upticking sharply there is about ten points it can move before it hits resistance at the upper BB...The candles are well above the 5 Moving Average, and the day it closes below the 5MA is when a pullback will be a certainty...



The CCI downticked slightly today, and when it crosses back down through the +100 line is when my Sell Signal kicks in...When the candle closes below the 5MA, the CCI usually gives my Sell Signal the same day...Volume diminished on Friday and Monday even as the price moved higher, and that shows that the rally was running out of steam...Today's Volume was a bit higher than previous sessions on a day the $SPX was down...Fast Stochastics show the fast line has crossed down through the slow line, and is still Overbought with a reading of 88.90 And the MACD Histogram had a slight downtick today, but the fast and slow lines are still upticking...

Tomorrow morning at 8:30am ET the Durable Goods Orders report will be released, and this report has the potential to move the market in the pre-market and the regular sessions...

Market Consensus Before Announcement:

Durable goods orders in May declined a revised 0.6 percent after jumping 2.9 percent in April. Excluding the transportation component, however, new durable orders rebounded a revised 0.6 percent, following a 0.9 percent decrease in April. The big negative in the report was the transportation component which dropped 6.9 percent in May-tugged down by a 29.6 percent plunge in the volatile nondefense aircraft subcomponent. Advances were widespread in other components. Looking ahead, we may see some softening in the underlying trend for new orders. The new orders index in the ISM manufacturing report eased to 58.5 in June from 65.7 in May, with 50 being breakeven. But a rebound in aircraft likely will boost the headline number.

http://online.barrons.com/public/page/barrons_econoday.html

Earnings reports from these S&P 500 companies will be released tomorrow:



The $SPX will be influenced by the Durable Goods Orders report, and by all of the companies in the Index that report earnings tomorrow...There are many more companies reporting earnings tomorrow that will have an effect on how the Index moves...For a full list of all S&P 500 companies that report earnings tomorrow, click on the link below:

http://thestreet.ccbn.com/earning.asp?client=thestreet&date=20100728