For the time being at least the long term up trend in the S&P 500 remains firmly in tact. The one glimmer for those of a bearish disposition is the recent sell off which has given an as yet unactivated target of 1,125. A close below 1,175 will bring this in to play. That rally from February has left an unactivated upside target of 1,500. It remains to be seen if this target becomes activated. A close above 1,225 would bring it into play. The more realistic 1,250 target remains in tact.