AMEX:SPY SPDR S&P 500 ETF
Secondary indicators ( and ) are not looking good, but that does not mean market cannot keep going up (we all know divergence). The rising wedge exhausting point is $250. The market can go up 20% from this point on (a parabolic move is also possible, which may lift it up above the current main resistance line), ), or can go down 20%. Judging by the direction of 10 month , the main trend is intact and is up. So I would suggest keep long the market as long as price is still above 10 month MA and above the main trend line. Only to short the market when the 10 month MA rolls over and price is below it and below the main trend line.