SPY(d) - looking to turn here

25 thg 4, 2013

We have GDP tomorrow but I'm thinking this market be in for a short term move lower. If I anticipate a peak based on today's price action the RSI seems to confirm weakness, also the volume profile has been declining on this push up from the MA(50). Now the Boston events pulled us lower and some longs got shaken out by the twitter news crash. I think this might be a level to be cautious getting long and a move lower might make a double top in prices.