Analysis 31st March - S&P 500 and Nifty

Dear Readers,
Today is 31st March of 2009 and as usual we traders expect markets to be up in expectation of NAV prop up efforts by funds. At the time of writing this post Indian markets are closed and US markets are open. Following is my analysis based on various charts:

S&P 500 Future:
In my last post on March 26, I expected S&P 500 Future to face resistance around 823 and it almost touched 830 and then retraced back. In my view 838 is the key and so far it has not even touched that. For today I expect it to make a "doji" (open almost equal to close) OR Inside Day (means close below 807). Following is the summary I arrived at:

• Main (Primary) Trend - Bearish. There is no change in the Main Trend.
• Short Term Trend - Bullish.
• Resistance - 799, 829, 838, 855, 876.
• Support - 774, 765, 749.

Nifty Future:
For so many times I posted here one number - 3140 and that was exactly the high Nifty Future made so far in this rally! Also, I pegged support at 2972 and it did not breach that today and closed above the other number I told - 3008. This makes me believe that the uptrend of short term is stronger than most thought. Now, the latest observation is following:

• Main (Primary) Trend - Bearish.
• Short Term Trend - Bullish.
• Resistance - 3055, 3140 - 80, 3215, 3264.
• Support - 2972, 2908, 2830 - 70, 2730 - 50.

The important thing is if it closes below 2730, then this short term rally will be over. On the other side, bulls need to conquer and remain above 3268 to break Main Primary Trend.