Very bearish board: all I am saying is DAILY MACD, ROC still up

It's hazardous to go against the broad bearish opinion on the FF board but the daily MACD and ROC (12) on SPY, QQQ, IWM, FAS are still up, even after the big red candle on Thursday. SPY Weekly MACD is has turned up, but just below the zero line, while ROC is up. On a fundamental basis, Euro Zone has bought some time before the next critical point in this long-running crisis, and June jobs report is two weeks away. With July 4 approaching, there is a small envelope for a rally lasting a week or two. BTW, the last two weeks were up on most charts.

Although I look at sentiment I don't use it in my decision making... Price going up or down is that matters...

Carl:
Climactic Activity Encourages Caution
Conclusion: Climactic readings do not tell us what is going to happen next, but they do identify extreme overbought/oversold conditions and flash a warning signal that the current price trend may have run out of steam, at least temporarily.