Here are 2 monthly charts showing S&P still in the down trend, the chart for SPY (S&P 500 Index ETF) went up in Mar 2009 gradually and we can see the similar pattern on the SDS (2x Bearish S&P ETF) shows the trend level increased in a consistent way.   However the daily and weekly charts shows an up as of this writing which produces mixed signals between monthly vs daily and weekly.  In order for the model to produce an up on the monthly chart, the break out has to be very strong enough to turn the monthly chart to reverse and it is not that easy.  This is a make or break scenario which is not good for trading because if sitting on the wrong side, the boat will sink deeply.  It is better to let the market to unfold itself first.