A Look at the SPY

At last check we had at least a +15% profit in yesterday's SPY calls, I think they'd love to see a new SPX nominal high and I think they realize that today might be the last day to get that done before all Hell breaks lose in the EU over Cyprus.

I wouldn't blame anyone for taking 1-day double digit profits at any time, but here's what I see so far.

 SPY daily, the SPX has a long way to go from here for a single day.

 We are coming in to some intraday gap resistance so things may lose a bit of momentum for a little while.

 Yesterday's 2 pm leading positive divergence and other signals earlier were obviously correct, so far opening trade is in line, it needs to see more confirmation though.

As for momentum, so far we look healthy on that front, momentum, RSI, MACD and Stochastics are all helping out intraday.

You might even consider taking partial profits here and there if it is feasible.