SPY is right up against my target and exhausting a symmetry. The structure remains intact so it is difficult to forecast a downturn, but with Sentiment sky high, symmetry running out and RSI2 embedded, more upside seems questionable. There are measures that show this can sustain itself but I can only go by what I follow.  There will be more on those indicators from Tom McClellan in the week end report.

As you can see the main oversold ETF’s are all shorting an index, another reason to be cautious

VALE has been on watch and looks like it needs a rest. Raise stops or ring the register if you are in this one.  RSI2 @ 96!

No evening report on Friday as it will be contained in the week-end report

Chup

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