SPDR S&P 500 (SPY)

[Two-timer]

Hi, Gleno. If you don't mind, here's my take. Daily charts suggest strongly that NDX topped on a closing basis on May 4. On May 5, I got an interim sell signal (closing basis) that was repeated on May 6, as well. This sell signal is the beginning, in my opinion, of a counter downtrend within the overall up-trend that started on March 10. Sometimes these counter trends can be quite deep. Or they can be short and last only a few days or a week. My guess is that this counter downtrend will be relatively short and play out during OE week. Looks like we'll bounce tomorrow, but I probably won't be long going into next week. JMHO. Two