Loading ...Not a Happy Chart!!!
One thing day traders like to track is the NY Advance/Decline… Today’s below -1000 (meaning 1000+ more decliners than advancers) is an indication of poor breadth for an up day in the SPY. Other than that, this SPY chart is not looking good….
Looking for a pullback….
On a somewhat related note, I noticed this on the Naz today. Made me think about a QID position but I never pulled the trigger. I typically don’t like counter trend trading but this one looked pretty alluring and allows you to place a tight stop.
http://schrts.co/afPqT8