You can't say the bears haven't had their chance. They have made seven attempts to penetrate the lower boundary of the symmetrical triangle pattern, today being the latest effort at 820. You saw what happened.

The market rallied on above average volume from that point but was contained on the upside by one of several resistance levels, 850.
Tomorrow may hold the key. If the market can't break solidly below 820 on a bad jobs report then the bears will be in significant trouble, at least for now. I suspect that's what will happen after watching todays action.
 
There's something else floating around out there that could ignite a massive rally. Rumors are circulating that the SEC will suspend "mark to market" accounting rules. If that occurs a massive rally will ignite. The S&P could easily reach and surpass 1000 on what would be the most violent bear market rallies we've seen in quite some time. 

Also the new Treasury tax cheat, sorry, I mean Secretary, will announce new administration initiatives on "solving" the economic crisis with our money in a speech on Monday. That by itself is enough to make shorts nervous going into the weekend.

I feel an inflection point is at hand. Somethings got to give, and it's about to.