The RSI(14) on the daily SPX chart is at 72.65 which is not a good reading for the Bulls. However, the
MACD(12,26,9) put in a crossover to the upside on June 1st and is still trending up but getting close to
where it was during the 1st week of Feb. of this year. I don't think it would be a good idea to fade this
puppy until the 12,26,9 rolls over. When it does roll over there will be plenty of opportunities to fade it.
I've long believed that trying to predict a top or bottom is an exercise in futility. Why not just wait until
the indicators say top or bottom?
