1450.00 being solid or broken out?

SPX daily
The resistance line (white) that connect 1370.58 to 1422.38 shows the resistance value at 1450.00 for the next few days.

SPX 2-hours chart
The Andrews' Pitchfork (violet) may be more cautious to represent the trend channel that the prices have followed since June 4. The upper trend line hints +1450.00 being a resistance in next few days.
However I don't rule out the possibility that the real trend channel defined by the simple drawing that connect the low of June 4 to the low of July 24 and the high of May 29 to the high of June 19. If this proved more realistic later on, +1450.00 could not be a very solid resistance and bulls would break it out with catalyze of QE3 announcement.

Bulls would target 1445.35 in next one or two days.
A pennant break out (volume confirmed from SPY's chart) seen on the 15min chart and the textbook target is 1445.35.

I guess the next target of bulls for today could be 1440.28

Draghi saved the Euro and the stock markets. I think we would see 1450.00 before seeing any meaningful pullback.
I guess the next target of bulls for today could be 1440.28 and I expect to buy the intraday pullbacks.
I don't intend to short before the next week's FOMC-meeting (September 12-13).

Can gold-rise be a sign for bulls?

I posted a chart of gold on 8/27 when it was at 1670.39 saying "If gold can win 1674.47, next target may be 1690.00." http://cyclestockmarketwinner.blogspot.com/2012/08/bulls-may-try-their-best-for-141575.html
Gold today jumped up to 1709.53 after a 3-days consolidation at 1690. Is gold and silver anticipating something positive for the stock markets?
It looks like Europe markets are rising on bets ECB will announce Bond-Purchase Plan.
We will see whether bulls could enjoy 1410.80-1412.20 before making next trial for 1415.40-1417.30 or bears could break down the 1397.00 on the third try because of nothing new from ECB?

1397.00 holds the second time and there would be no big bet ahead of the key ECB meeting

Yesterday, the negative bias seen from the Europe markets before the US session open and as a result, the bearish scenario placed in action. The support area 1397.00-1400.00 worked well as where bears satisfy the gain and leaving prices pushed up by the bulls. Bulls have reclaimed almost what bears borrowed for the day.
My favorite scenario for today is bears will try another push down to visit 1402.30-1404.64, this area I expect hold well by bulls and then bulls will fight for the target 1411.85-1413.09.
Bearish case, if any, would be limited by 1397.00-1400.00 because of high chances that no big bet ahead of the key ECB meeting.

I guess that markets will continue the rise at least one more day

SPX Short Term
Last Friday, Bernanke didn't hint an imminent stimulus, however the market got a rally and the 1404.64 level now becomes a support.
I guess that markets will continue the rise at least one more day before we may see a consolidation or a down day. An early confirmation signal to what I guess would be a positive bias of Europe markets seen before the US session open.
The bullish scenario will target the area 1415.40-1417.30 and I may expect a pullback middle way in the area 1411.85-1413.09 which however would offer a chance to add long positions. 
The bearish scenario would target 1402.30-1404.64 if successful will go next down to 1397.00-1400.00.

SPX Intermediate Term
Looks bullish before a possible bearish ending with the following aspects:

- Most of time since 6/7/2012 the prices are above the MA20.
- The prices are in a rising channel (yellow).
- Bollinger bands are contracting, in this case may hint a spike up later on.

- Looks as in the forming of a Rising Wedge, which eventually will be bearish.
- The last target of bulls may be 1450.00 as the chart anticipate.
- Timing of the bearish reversal may be the end of September.

Acknowledge
Dear Shelli, 
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