Spy hit top, 122. May not break out.
Daily stochastis hit top and bent down= dead cross, + hourly MACD strong negative divergency.
Imply possible trend reversal down. Unless spy decisively break out above 122 tomorrow.
Now, spy made 3rd try for 122, only made lower high.
Hate to say this to bulls, IWM is leading ... which is still in the bull flag, the last pullback in SPY happened when IWM hit the upper bound of the flag ...
Lao da: what is ur conclusion?
As I read ur chart, this time, spx may hit bottom at 1150 or 1140, if we extend ur top down line a bite with time goes, it is 1140, then turn up again. Right?
If 1140 can support, mean Greece default may delay for a while, but eventually, it is it.