Intraday breadth has been neutral to positive.
This is what I see on a 5-min SPY
I still think the rise from the low of yesterday looks corrective, but it can go up, or easily morph into a more impulsive structure.
Index is in a middle of a gap. Bulls should really fill and exceed it if they don't want to be perceived as weak. What are they waiting for? They should know they have a chance at god shorting bonanza. They look weak, or maybe they are penniless and in need of handout from Bernanke?
Who knows?
S&P needs a rise move above 1065 to perhaps suggest a change in short term downtrend.
All other levels I have listed before are still in play.
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