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$SPY $QQQ End Of Day Update: This is a WEEKLY chart. As I mentioned previously before this move up this waas the most likely probability. A move up into resistance and the 20 week SMA. We are now here. I for one have used this strength to lighten up on some long positions. I am out of all my #SPY calls. I will reassess IF we break ATH, BUT I think the most likely probability is at the very least we retest some support lower. #SPY #DIA #QQQ #IWM

$OIL Its about it get REAL UGLY for #OIL on the downside, Double Top Outside reversal on the WEEKLY. Sub $60 on its way. I think $silver topped and now $OIL has topped. I hope people used the recent strength to get out of positions. #SPY #QQQ #DIA #IWM

$OIL Its about it get REAL UGLY for #OIL on the downside, Double Top Outside reversal on the WEEKLY. Sub $60 on its way. I think $silver topped and now $OIL has topped. I hope people used the recent strength to get out of positions. #SPY #QQQ #DIA #IWM

$SPY $SPX End Of Day Update: Okay people be careful out there. We are nearing the 20 day SMA and inching into overbought territory on the Daily Time Frame. I for one wouldn't be surprised😲if we pause and pullback for a day or so and retrace this FAST move up. I don't think it will be the TOP of this move but I woulldn't be a hero right here right now. Shorts will probably rule the day for a day or two. #SPY #SPX #IWM #DIA #QQQ

"That's now a 5-week losing streak for the S&P 500, the 21st since 1970, which I think most would believe precede really strong market climates over the near term most of the time. But that belief would be 'just a bit outside!'." @SJD10304

$SPY $SPX End Of Day Update: Rally Caps on folks. I mentioned in my last post the odds favored a relief rally. I think the next major pivot will be in the 6750 area when we approach the 20 week SMA. After that we will see. I have to respect that we broke structure and are on a Supertrend Sell Signal. BUT I have zero plans to panic at the bottom before a relief rally came. For now I plan for a rally up where I will lighten up on long positions. #SPY #SPX #QQQ #IWM #DIA

$SPY $SPX End Of Day/Week Update: Breakdown is now confirmed on the Daily and the Weekly chart. I think we visit 6000 $SPX, BUT we are trading outside of the Weekly Bollinger Band and oversold on the weekly stochastics so I expect some back and fill. I would use it to lighten up on long positions on any show of strength. I am looking for 6600+ on this retrace move up. #SPY #SPX #DIA #IWM #QQQ

$SPY $SPX End Of Day Update: Well Folks that was an U-G-L-Y day. We have broken support and if Mondays low doesn't hold on Friday we will have a confirmed breakdown on the Daily AND the Weekly so we will be looking for targets lower if that is the case. 6100 would be the next support area. So hope for a stick save tomorrow. #SPY #SPX #DIA #IWM #QQQ

$SPY $SPX End Of Day Update: Well Folks that was an U-G-L-Y day. We have broken support and if Mondays low doesn't hold on Friday we will have a confirmed breakdown on the Daily AND the Weekly so we will be looking for targets lower if that is the case. 6100 would be the next support area. So hope for a stick save tomorrow. #SPY #SPX #DIA #IWM #QQQ