Line in the Sand

So yesterday I posted that I thought we were going higher in US markets but that I could be wrong...well I was wrong...or was I early? The thing to look for is a close above this past Friday's open or high (775/778 respectively)...But also pay attention to the 741 level on the SPX. That's the 'line in the sand' for me and represents a significant support level (from a technical perspective as well as a psychological perspective); chart below.