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 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 moving average, 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 . Only to short the market when the 10 month MA rolls over and price is below it and below the main .