Nice chart developing on the 30 minute SPX

Despite weak oil trading, gold trading higher over the last two days and a minor rally in bonds, SPX is standing strong. Two weeks ago, this would be 20-30 points to the downside at least. 

Also check out the daily chart of SPX and notice how it is holding tight to the 5-day moving average and bouncing each time. 

For now I am about 20% long and sitting in 80% cash, that I will look to put to use next week if the market can resume the uptrend it has been on for this week.