2051.25 is the critical level on the S&P futures. If that level fails on a daily close, the bullish macro technical set-up is kaput!!
Long-term models would likely be going to cash with the long SPY slot. The EFA and EEM slots have been and remain in cash. Only IWR, IWM and IWC remain safely above their respective trip wires. That makes us 67% long and 33% cash with about 17% about ready to shift into cash. The key level on SPY is 205.44.