SPDR S&P 500 (SPY)

[Footquarters]

Hi Tic Tac








Right now, moving averages/RSI are still reflexing a hold long tilt on the indexes. That began on Monday, I would watch for a break above the recent high and then a close below, that would give a sell/short signal. Short signals would be at 898 SPX, 33.75 QQQQ and Dow 8400. Given the 15 min chart, this mornings open will be a tell all as it was the first time that the indexes went to the dark side of the BB's since Monday's take off to the upside. So hold long is the signal with watching the open and the above short signal for a continuation move to the downside.
The NASI even though a indicator of momentum in the markets hasn't indicated anything more than weakness or a time of consolidation/distribution. The 23 ema and the break of the RSI 21 indicates a possible reversal in the momentum on this chart, so I would generally keep an eye on those verses even the MACD cross on the chart.