Technical bear case:
- The Advance-Decline Line (for NYSE) has failed to make new highs (market breadth is week). ADL on chart.
- Slow Stoch indicates a not-yet-oversold signal, but is close. Confirming a sell-off.
- Futures have faded nearly every day of the last week (morning strength, afternoon ...
SIRI buyback plan should be enough to take this to at least 5.00. If that happens it's a 46% upside potential.
Daily RSI and Stoch are poised for a break-out higher as well.
Large volume increase on 3.15.2014 confirms potential.
The near-term high volume support area of SPY indicates (at the moment) that support is holding.
Near-term Stoch also is close to oversold.
If support holds then a 80% up day (on NYSE) would confirm bullish trend and set-up for a retest of highs. (Go long if this happens for a reduced-risk ...