A few observations. The SPX 500 is testing lows from March whereas the Nasdaq hasn't. This is primarily due to the financials weighing down the SPX 500 quite heavily vs. the Nasdaq. It will be interesting to see if the SPX 500 breaks resistance and goes lower in the upcoming sessions.
Oh, and in case anyone didn't know. BAC (Bank of America) now has a 10.4% dividend yield as of today with the stock trading at $23 and change, well off its 52 week high of $52. Ken Lewis says he will leave the dividend unchanged but apparently investors aren't believing that right now.