Current Trend is to the Downside
SPY 20 Day, Hourly - 7.19.10 - Bear Potato using the 20/50 Moving Average Crossover. MACD trending down. (Click Image to Enlarge)
VIX (Volatility Index) - Inverse Directional Indicator to the market in general. Monday was down but the Trend is Up. Consistent with a Bear move for the Market.