PurelyTechnical

Here's a look at the 5-min charts and the hourly charts of SPY. Although to be complete blunt, you're asking for trouble if you're reading too much into this action. There is NO discernable trend at the moment.

Like we've been saying for the past couple of weeks in our nightly and weekly commentary segments, WAIT for the markets to give you a clear signal. Don't jump in head first and then regret it later.