Looking at the SPY or what's really the S&P 500, I'm looking for a pullback to be coming...
If you can see through all of the crap I have on my chart, I'll explain why I think that...For starters, since the near term bottom on 7/15 the volume has slowly been tailing off; that's a little bearish in my eyes. Also, using Fibonacci Fan's, the SPY is currently up against some resistance...(Almost done explaining)...The green lines I have drawn, represent a 'bear flag' or 'rising wedge' (which is also bearish)...
Just my opinion of the current condition of the SPY.