The above chart shows the intermediate sideways movement of the market.  I try to show market movements in different time frames.  This is important in giving us perspective in the broad market ups and downs.  Sooner or later the price will break out of this "straddle".  In the mean time we need to deal with the ups and downs of the daily and multi-day swings.
This chart shows the "Battleground" that happened a couple of days ago.  I think we need to avoid "Battlegrounds" as it is there you can take a bullet.  Position yourself on a hill and watch the battle and then go with the flow.  Gold spots show the areas of interest.
More on Battleground and possible breakout.  This is on a 30m chart and needs confirmation on the 60m chart and then it is "full speed ahead".
This chart shows the dramatic and very strong movement this afternoon in the market.  The 30m chart was very positive for a new Bull Potato.   We are just short of getting confirmation on the 60m chart.  It may happen in the AM.
Very stong thrust to the upside.  Perfect entry on the "JA Play".

SPY 20D, 60m - Jan. 20, 2009

This is the most important chart in that it shows the extended bear potato that we have had for the last 9 days.  There was a full scale bull/bear battle for two days that has resolved to the downside at least for the moment.  Tuesday's session was significant in that the internals were very weak all day and became even weaker as the day progressed.  All time frames showed Red MACD.  This potato is very over extended in lasting for this long.  Sooner or later we must get a break to the upside.  There is no way to know when that will happen.