Incision with the indexes

SP:SPX   S&P 500 Index
Market hanging on by a thread.

- After testing overnight lows, we had a reversal of market internals ( UVOL / DVOL , TICKS, Breadth) and rocketed higher closing the day in the highs.

- PCC gave a buy signal mid day, VIX Ratio almost gave a buy signal.

- My take away is we should bounce here, but we need to look for a failure near the daily SMAs (20, 50, 100, 200).

- Downside target if we fail is 444 on SPY .

- Earnings next week + FOMC the week after should accelerate RV. Stay alert.