SPY Update

The SPY also looks ready for a highly directional move.

 Here's what would be considered a bullish ascending triangle, another continuation pattern that's very obvious, be aware of the high potential for a false breakout.

 The Bollinger Bands again are very tight suggesting a directional move shortly.

 3C 5 min is negative

 More importantly the 15 min is negative.

 Just to compare to other accumulation/distribution indicators, MoneyStream on a daily chart is very negative, including the move of the last two days.

 As is the hourly chart which hasn't budged a bit toward confirmation.

 The same is evident on the 30 min chart.

and the 15 min chart.

I'm going to take a look at the TICK chart and breadth next.