SIGNALS

I haven't focused on the SPY numbers lately and I guess its because there probably isn't much to do except sell. The VIX sits right at its 10 day SMA, so we aren't getting any signals from that index and the SPY has a 2 day RSI of 75 indicating it is or was a time to sell. My major problem with owning the SPY now is the gap from Friday. My guess is that gets filled before the week is over and that will result in a SPY about a buck lower than current prices.

The IWM and the QQQQ are both at 2 day RSI's over 90 so they are probably at good selling levels and should at least be trailed with stop out orders. The VXN index is also far more overbought than the VIX also leading one to believe that a sell signal is at hand on the Naz.