Are we heading lower? A look at a single chart says no, but a collection of pieces from a series of charts tells us its a much higher probability.
The MACD on the SPYs has given us a sell signal.
The OBV is moving lower and has also given us a sell signal
The QQQQ's MACD has given us a sell signal and its 10 day SMA has moved below the 20 day SMA
The IYTs (transportation average) are already below the 10 and 20 day SMA and the MACD has given us a sell signal.Finally
Notice that on the daily chart prices have been unable to maintain the technically important level of 91.30. Also note today's heavy selling at the end -- which is not a good sign.
