Bottom Drops Out!

 Down, Down, Down

 SPY 9.23.11 - Gap Down - OBV Bullish

Approaching Trendline Resistance

 Pending Assault on Trendline

SPY 20 Day, Hourly - 9.13.11 - Range Bound Trading Pattern is Dominant.  MACD and OBV are rising and bullish.  Descending Trend Line offering Resistance to Further Advance.  Price Action is a Mid Range.  Technicals offer little help on direction from here.

Well Now? What do you know?

 Surprise, Surprise!

SPY 20 Day, Hourly - 9.12.11 - PPS Reversal Signal, Bottom of the Range, Pessimistic Sentiment -  "Time for a Rally"

Support vs Over the Cliff

 Turning Point - Up or Down?

SPY 20 Day, Hourly - 9.9.11 - Technical Analysis has its Moments.  This is a Moment.  SPY price action is at support and at the same time we can see a "Lower High" from 3 Days ago.  That is Bearish to a Technician.  The Risk in this market is both to he upside and downside.  On Balance the move appears to be to the downside.

Let's Keep it Simple

 Keep Deep when the Waves are High (Volatility)

SPY 20 Day, Hourly - 9.8.11 - PPS Roll Over.  Sell Signal - Market is Very News Sensitive.

Bounce Off Support - Can It Last?

 Market Volatility at Point of Support

SPY 20 Day, Hourly - 9.6.11 - PPS Buy Signal near Support - Max Pain Point at 124 - MACD and OBV on the Rise - Can Move be Sustained?

No Jobs, No Money, Nobuma!

 "Get the Government Out of My Way - That's All the Help I Need."

SPY 20 Day, 2 Hour - 9.2.11 - Market in Bearish Down Cycle - Point of Control at 114.00.  Point of Maximum Pain for Option Traders is 124.00.  Those are strong and opposite gravitational forces.