RBS - "S&P-500 (cash) – has reached a strong resistance region of 1,460/70 region (the 176.4% projection from the Oct’11 impulse wave), as was suggested in the last weekly publication. However, from this levels a correction looks likely to occur to the 1,422/17 support area before extending the move to the upside. This is likely to be a temporary pull back and once the 1,470 level is broken, further upside to 1510/18 will be probable."