There has been some distribution recently on the 25x3 closing chart above, and we also have an unactivated downside target of 11,950. The current column of X's will need to reverse in to a new column of O's and move below 12,275 for this to become active. The three price objectives to the upside are all active. But remember these targets are for guidance, they do not always get met. Even here, although 325 points away, it has the 'look' of a double top.
Again, here is a bigger picture, 100x3 chart, showing the high of 2007 in the top left corner. The April 2010 high is of course the highest level the market reached from the 2009 bottom, before reversing. There is still an active downside target of 9,500 and an active target to the upside of 13,800. The horizontal red lines could form resistance levels showing previous highs before the market reversed (should also be one at the 13,300 level).