In looking at the above chart it would appear that there is some disagreement between the RSI (top indicator) and the MACD. The MACD looks as though it could climb, and the RSI looks like it could go either way or sideways. This causes me to look at things a little more in depth...I will now switch over to the FAST K and ATX indicators to get a closer look:
The chart above now tells us a few things. I think that things are going to go sideways with a big down day and then bounce back up to sideways. Check out the last time there was a near DI crossover, things walked to the right with a big testing down day in there. I do not count the current DI crossover as an official one as yet, it is too close. Everything tells me we are going to walk to the right. Then next week I expect an announcement how the Greek talks are breaking down with the creditors and that will rattle the market and that most likely be the down day.
How to play this: Now is not the time to get into anything long. If you want to play, flit around with shorter term shorts and puts.
One more trading day to go, come back tonight for a post on trading, subject to be determined. Have a friends thats into day, swing or end of day trading? Let them know about this site, as it can be a valuable insight into the market. And extra money in your pocket doesn't hurt either.
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