David Fuller's view Although in a cyclical bull market, the S&P 500 Index (weekly & daily) is a little overbought in the short term and near prior resistance. Also, renewed upward pressure on WTI and Brent crude oil prices, plus a surge in the grain and bean complex today, is likely to revive concern over commodity price inflation. Consequently, I think Wall Street is susceptible to some further reaction and consolidation in a mean reversion process towards its rising 200-day moving average. Today, I shorted the June S&P 500 contract at 1322.13 and 1324.13, including 1-point spread-bet dealing costs.