Could be Too Much of a Good Thing for us Bears?

 A Little Caution Here Might be Appropriate

 SPY 2 Year Weekly - 6.6.11 - Five Weeks of Progressively Lower Closes on the Weekly.  There was a Bearish Engulfing Pattern last week.

SPY 10 Day, Hourly - 6.6.11 - Several Days of Down Might Call for a Bounce.  There could be some Short Covering which would add to an Upswing.  It Could be Short Lived.  Note how the On Balance Volume has Confirmed the Market Move.