SPDR S&P 500 (SPY)

[trendzone]

CNBC Carter Worth reporting in the past history of the S&P it's at the very top of its channel, indicating way over bought, and would be normal for a 10% pullback selloff to the bottom of the channel, and in his opinion is setting up to be the direction it most likely heading in for the near future, so far there has been around a 2% pullback, the set-up for pumps has a lot less amo then it did three months ago, and make more sense to be a more aggressive buyer at the bottom of the channel, not at these nose bleed levels,that the machines now are most likely set in dump mode on run ups,and any slowdown in volume, that could be setting up pump chasers caught holding heavy red bags.