In my January 5, 2010 post I mentioned the 1165-1170 as potential resistance, I think bulls are running out of steam. Pay attention to 1150 is the first line of defence for bulls. If big institutions want to send the market higher they should keep S&P above 1150. If 1150 fails to hold the next line of defence would be 1120-1125. S&P500 must stay above 1120 if they want to shoot S&P to 1200 in coming months.
Short Term Supports/Resitances in S&P500: